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Wage Slave wrote: It had to be signed and the original delivered to some office in Washington. Way over the top.
wagyl wrote:
The only thing I can think of is that it is part of the official secrets regulations of last year, .
Lewis Prothero: Did you like that? USA... Ulcered Sphincter of Arse-erica, I mean what else can you say? Here was a country that had everything, absolutely everything. And now, 20 years later, is what? The world's biggest leper colony. Why? Godlessness. Let me say that again... Godlessness. It wasn't the war they started. It wasn't the plague they created. It was Judgement. No one escapes their past. No one escapes Judgement. You think he's not up there? You think he's not watching over this country? How else can you explain it? He tested us, but we came through. We did what we had to do. Islington. Enfield. I was there, I saw it all. Immigrants, Muslims, homosexuals, terrorists. Disease-ridden degenerates. They had to go. Strength through unity. Unity through faith. I'm a God-fearing Englishman and I'm goddamn proud of it!
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wuchan wrote:http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA
Basically it was supposed to make credit reporting easier and allow you free access to your credit report to prevent identity theft. What it really does is force all banks that want to do any business with US banks to report the holdings of all american citizens. Why? No one really knows yet. Probably to tax people earning unreported income overseas. If your "total holdings" is over $50,000US you MUST report it.
A list of shit you need to report:http://www.irs.gov/Businesses/TypesofForeignAssetsandWhetherTheyareReportableonForm-8938
A cool loophole that works for Japan: Cash holdings does not have to be reported. I'm going to need a bigger safe.
wuchan wrote:http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA
Basically it was supposed to make credit reporting easier and allow you free access to your credit report to prevent identity theft.
wuchan wrote:What it really does is force all banks that want to do any business with US banks to report the holdings of all american citizens. Why? No one really knows yet.
wuchan wrote: Probably to tax people earning unreported income overseas.
wuchan wrote:I live under a rock. Google search:
kurogane wrote:Weird thread, great title. Good health chuckle work, SJ.
BTW, I heard that FATCA was a reverse engineered acronym to purposefully highlight the potential targets. Great idea, crazy execution.
wagyl wrote:kurogane wrote:Weird thread, great title. Good health chuckle work, SJ.
BTW, I heard that FATCA was a reverse engineered acronym to purposefully highlight the potential targets. Great idea, crazy execution.
They all are FACTA, FATCA, everyone's favourite USA PATRIOT (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001)...
I wonder if Congress really knows the meaning of the word "Appropriate."
Wage Slave wrote:There are times the US and UK are totally apart. FATCA, as brought into being by a Democrat President, bears down very heavily on US citizens who are being forced to pay their taxes - no place to hide and all that good stuff. However Apple, Amazon, Google, Starbucks and the rest are permitted (unless I missed something) to continue pretending that they are wholly owned and controlled by a Company in the British Virgin Islands or somewhere and they are compelled by commercial agreement to hand over all their earnings and more to that company.
In the UK, even a Conservative government has been forced to at least try and impose draconian law to give the tax authorities the power to declare these schemes artificial and solely designed to avoid tax and therefore demand payment of corporate taxes on UK earnings. The companies concerned then are required to pay now and argue about it later if they choose. They hate it and are making all sorts of noises but public opinion just won't settle for anything else.
kurogane wrote:and now middle income (at best) English Teachers in Boopadoo-land are being hounded
while Jobs & Co. remains offshore and unmolested.
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