Record Number Of Americans Give Up Their Citizenship In 2014

[sleslie23]

Are you sure about the 50 mango minimum?

Here´s what I found on line this morning (and it confirms what I´ve read previously):

Who Must File an FBAR

United States persons are required to file an FBAR if:

1. the United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
   
2. the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

United States person includes U.S. citizens; U.S. residents; entities, including but not limited to, corporations, partnerships, or limited liability companies, created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.

Source: http://www.irs.gov/B...l-Accounts-FBAR

I wasn't stating that 50 pesos is a minimum, just that the mere existence of an account could cause problems.

However, I think you are correct that any account under 10k USD doesn't have to be reported.

 

[steveinbsas]

I wasn't stating that 50 pesos is a minimum, just that the mere existence of an account could cause problems.

It may be the case that (at least) some Argentine banks aren't providing information to the IRS about US account holders who are living in Argentina. if that's true, the IRS won't know anything about these accounts unless the taxpayer is required to file the appropriate form.

Some expats have reported that their Argentine bank accounts were closed in the past year or two, but I know for a fact that Santander Rio and Banco Patagonia do not ask for the US Social Security when someone from the US applies for an account.

 

[Alicia karr]

Nor did HSBC three years ago.

 

[steveinbsas]

Nor did HSBC three years ago.

Thanks, Sharon

And haven't a few expats with temporary residency reported that their HBSC accounts were closed in the past year or two...or were they frequent visitors without residency who opened accounts when it wasn't so difficult?

 

[Alicia karr]

I still have mine. Altho I just applied for permanency the bank hasn't been informed because I haven't been officially notified. There is now more than a 90 day delay in all residency transmites!

 

[StevePalermo]

not shrinking due to fleeing the Kenyan Marxist Usurper and his jackbooted IRS

I like your sarcasm. Those nutjob ignoramuses who describe Obama like that always make me laugh. There's no evidence for that opinion and in fact it ignores the wealth of evidence to the contrary. Thanks.

 

[Redbeanz]

I like your sarcasm. Those nutjob ignoramuses who describe Obama like that always make me laugh. There's no evidence for that opinion and in fact it ignores the wealth of evidence to the contrary. Thanks.

Right! It's bizarre that they choose to speak such volumes about themselves by continuing to echo such preposterous fabrications.

 

[steveinbsas]

I like your sarcasm. Those nutjob ignoramuses who describe Obama like that always make me laugh. There's no evidence for that opinion and in fact it ignores the wealth of evidence to the contrary. Thanks.

Insults and name-calling are not facts and do not substantiate arguments.

Here are ten points that Robert Nielsen made in a Worldpress blog in late September of 2012 to support his "argument" that "Obama is not a socialist." It's worth noting that, in the first paragraph, the author asserts that "only delusional fringe of the far right" believes the "extremely outrageous and daft claim" that Obama is a Socialist or Marxist or Communist, and goes on to assert that "Obama is actually a centrist moderate, whose desire for bipartisanship has not been met halfway."

http://robertnielsen...ot-a-socialist/

Given the exact wording of the ten points, it looks like they may have been written in direct response to Mark Hendrickson's op-ed "President Obama's Marxist-Leninist Economics: Fact And Fiction" which was published in Forbes on line in late July of 2012.

http://www.forbes.co...ct-and-fiction/

 

[StevePalermo]

Steve, I think that anyone describing Pres Obama as a "the Kenyan Marxist Usurper"deserves mockery. Can you supply any evidence that he's not a US citizen? I did ask you once how you'd define a socialist but you didn't reply, which is fair enough, there's no obligation to answer the question, but no libertarian I've ever met has managed to give me a rational reply.

And using a member of The Centre for Vision and Values in an attack on Obama (the Forbes link) is hardly an impartial source, and even he denies that Obama is a Marxist-Leninist.

 

[Pensador]

Honestly all of us that have money are talking about it and thinking about it. It is not the tax evading issue but the fact that we are paying for nothing. As expats we do not get any services for paying taxes we do not even have representation. Opppss what is that taxation without representation. And we are have to report and jump through hoops like we are dogs. I think it is just out of balance they are looking for resident citizens hiding money off shore. And just making filing and all the BS for us as expatiates a night mare. I for one think citizen based taxation is robbery because they do not provide any services for that taxation. And I do not need national defense here or anything else the US could provide for me but yet I have deal the fact that the IRS has a number on me for life tattooed on me like I am a slave. And of course I don't want to be in cage so I best pay the fed mafia or else.