I have to wonder however, how long it will be before the rent - boy President is sending his racketeers after me, you see one of my Grandfathers was actually born in the USA so no doubt the Obama regime will be wanting me to contribute so he can offer more gifts and benisons to illegal immigrants, perverts, crooks, liars and workshy scroungers. The worst of it is our gutless, spineless, traitorous leaders in Europe are co - operating with Obama's gangster regime:- Phil T Looker.
via The Local
Jonathan Weiss hasn’t lived in the US for 25 years. But that didn’t keep his foreign bank account from being frozen in the wake of new US tax laws. Find out how you can avoid the same fate at the hands of FATCA.“I had been living in Switzerland for ten years, and then out of the blue I got a letter from my bank, saying that since I am an American citizen I had to file some extra paperwork,” Jonathan Weiss tells The Local. “Two weeks later my bank account was frozen.”
Weiss was born in the US, but has lived abroad since age ten, in both Asia and Europe.
“I was just living in Switzerland, working there, minding my own business,” Weiss recalls. “And then I was caught up this net. I had no idea what to do.”
That was his first encounter with the long arm of US tax law – FATCA.
If you’re an American living abroad, chances are you’ve heard of FATCA. And if you haven’t, you probably should have. Or there may be serious consequences.
“FATCA requires foreign banks to report information to the IRS regarding all financial accounts held by American clients,” Ines Zemelman, a tax agent specializing in expatriate taxes, tells The Local.
“The age of financial privacy is over.”
Over 100 nations have already agreed to provide the IRS with such information, including Germany, France, Spain, Italy, Switzerland, Austria, Sweden, Denmark, and Norway.
Click Here to read full article RELATED POSTS: Swiss Decoupling Sets The Euro Adrift, Triggers Vast Losses For Banks, And Currency Traders
Nobody is shedding any tears over the news that the deciusion by the Swiss central bank to sever the link that kept The Euro single European currency from the Swiss Franc, it is just another example of really important news you will never read of hear of from mainstream media. It is however bad news for all of us.
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