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IRS Causing Serious Problems For Any ‘US Citizens’ Even If They Have Never Lived There.
Swap the word ‘Dutch’ (below) for an other nationality and this has to be a BIG problem.
“They have never lived or worked in America, but have to pay taxes to the United States. Tens of thousands of Dutch people who have an American citizenship are finding out that they had to file for years because of a law called FATCA. The IRS is threatening with fines and criminal prosecution. Nieuwsuur, a prominent news show, spoke with experts and citizens.”
Scott, since they have never lived or worked in the U.S., why do they maintain this dual citizenship? As a dual citizen they owe their allegiance to both countries and must obey the laws of both.
Hey Scott seems like one of your fellow Brits had a very similar problem! And remember folks, FATCA and the recently executed financial information exchange agreement with CR is a two way street. So when CR or any other participating country wants YOUR financial info from Uncle Sam (such as total income or assets should CR want to base your CAJA payments on TOTAL income not just what you declared in your residency application) they will get it!
Think it can’t happen…. just read the story (from a very reliable source) below…. do you think the Mayor of London EVER IMAGINED he’d be paying the IRS taxes on the sale of his home in the UK?
A quick Google search will provide some great articles on the issue and how quickly he fell in line…. do you really think you’d have a prayer?
The IRS and other government agencies have become way too invasive. If governments around the world said “no” to this crap, what would the US do? Refuse to buy/sell/lend to those countries? Nonsense. Somebody needs to swat the big bully who picks on its own people.
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