Argentine And U S Tax Authorities Now Talking Together

[garryl]

"no, IRS only asks US citizen to report any foreign bank acc that has more than 10k in it.
I reported foreign rental income, no one cares. "

Who doesn't care about what? Not clear.

I reported foreign rental income each year, the IRS never questions any of my reports.

 

[GS_Dirtboy]

Unless the IRS sees that one has foreign rental income on an asset that, given one's U S tax reporting, one should not be able to afford.

 

[citygirl]

Unless the IRS sees that one has foreign rental income on an asset that, given one's U S tax reporting, one should not be able to afford.

I think that's generally more an Argentina issue than a US issue no? I can't remember ever hearing a case of the IRS going after/questioning how people afforded buying their properties. Also, while I know people in the US exploit loopholes, at least my N1 is outright tax evasion is generally not seen.

Now AFIP on the other hand might be a little bit more curious if you have no income in Argentina and all of a sudden you've got accounts popping up in the US with lots of money.

 

[macmax]

Ref: bilateral TAX information sharing Agreement between US and Argentina & onging TAX amnesty

Hi everyone, I'm a perm resident in Argentina and US Citizen. Just started reseaching about the topic and new in this forum.
question:

-In the context of the bilateral TAX information sharing Agreement that US and Argentina are negotiating,and the TAX amnesty ongoing in Argentina,
WILL THE IRS share information with the Argentina's Tax Authorities on banking accounts owned by US citizens in the US?

any comment will be appreciated.