Mrdredd:
Quote:
What about the United States govt (i.e. FBI, Treasury Dept.) asking questions?
What are they obligated to do then if anything, and will they keep private information PRIVATE?
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Hi Dredd!
MMMMMM!
There is nothing worse on the face of this planet than the US IRS telling lies to get information on US citizens :-) You in the US?? Sadly this is the only country that chases this kinda stuff.
Example... an actual instance! A US person has accounts in Switzerland. The IRS approached the bank and asked them to open their accounts on this individual. Clearly they refused since it is against the law to disclose this and the IRS have no business asking in the first place.
Then... six months later, they call on the bank again, but with "backup" from the FBI and present the bank with statements that their client is a drug dealer, a child molestor and.. forget.. something else :-) The bank sits back and reconsiders their position and eventually opens the account info asked for in the first place. The "subject" of this case ended up in a cell.
In real life... this came out at the court case, this individual was never a drug dealer, child molestor or anything else - but he was removing cash out of the US to "deprive" the IRS of their dollars.
Normally all this would not be a problem, but the fact that you *may* be a US citizen raises and entirely different scenario. There are only three countries that demand their citizens be subject to taxation on worldwide income, irrespective of where they actually earn and live. One of these countries in the US and another is Lybia and some other place ... think Saudi.
Seriously.. you need good professional taxation advice if you are a US citizen - else this is a very "twitchy" area. All this can be done, but it needs careful planning and be "acceptable" to any IRS inquiry.
