U.S. Currency Control Comes Into Effect Jan. 1, 2013! Will It Affect You?

this is a good law.

I hope it includes payments purchases on imports

Simple. Sit on your money.

Another sign of a desperate economy

For whom?

It is a good law for greatly discouraging people from moving their wealth to a safer place...

This will help keep the money inside the country until the fed gov can figure out how to steal it too!

It won't effect anybody that voted for Obama.

What about American Expats who are employed by US companies but stationed offshore? What about their payroll accounts? They have to move money to Europe or Japan or wherever they are all the time. Otherwise how would they live? This is insanity for those people.

This doesnt hurt the little guy... this goes after the millionaires sheltering their money offshore.... it is a good thing....

The problem with this country for years was the money leaving it.

No more sending money home to Mexico.

effect

try affect republitard

maybe they need to hire American residents.

I thought that in October these new currency controls were delayed for a year, becoming effective January 1, 2014 instead of next year. Can anyone confirm this?

machobird

FATCA Delay Offers Some Breathing Room
Print Email Reprints inShare.2November 6, 2012

By Michael Cohn, Editor-in-Chief, AccountingToday.comThe Internal Revenue Service’s decision to modify the timelines for withholding agents and foreign banks to comply with the stiff new due diligence requirements under the Foreign Account Tax Compliance Act is providing them, as well as taxpayers and preparers, with some welcome relief.


Mike Laveman

FATCA was included as part of the HIRE Act of 2010 and requires foreign financial institutions, including hedge funds, to report to the Internal Revenue Service on the foreign holdings of U.S. taxpayers or else face large penalties. The requirements have provoked an outcry abroad, particularly from dual citizens and expatriates, in addition to the financial institutions that are expected to comply. Some foreign banks reportedly have been reluctant to do business with U.S. customers, and some expats have even renounced their U.S. citizenship.

Late last month, the IRS announced that it has delayed the timelines for withholding agents and foreign banks in completing the due diligence requirements (see IRS Modifies FATCA Timelines). Foreign financial institutions will have until Jan. 1, 2017 to start withholding taxes from U.S. taxpayers’ investment gains and until Jan. 1, 2014, to put in place the reporting requirements mandated by FATCA.

[link to www.accountingtoday.com]

Would this also apply to companies based here in the states purchasing products from abroad to sell to Americans? If not, then this law is absolute bullshit because purchasing goods from overseas is sending money out of the country in exchange for goods, I can't see how imports won't be affected as well.

in "such a country" means a country considered a TAX HAVEN, and MOST countries aren't in that category now, ARE THEY???



.

Sure,if you like totalitarian gubmint. The more desperate and greedy the gubmint gets, the faster it will fail.

hitler passed the same law before they started killing the jews.

Since popular culture has shown that immigration and forign immigrants occupying our land has the momentum. This law will ONLY effect people, Not corporations and since it is white Men that are under attack it is a racist law.

Maybe you should attempt to rub those two brain cells you suggest you have together before letting yourself write anything or speak from ignorance...

Whoops!

Last Edited by Renegade () on 11/11/2012 04:46 PM

Yes, what about expats?

Good
It should be 80%

screw overseas employees

what are they doing anyway, working outside of the U.S.A.?

What, are jobs here not good enough for them? Screw them if they think they're better than the rest of us

Asshole so-called executives, serves them right...keep their money in the US where the government can help them redistribute it to help their fellow man

there are people trying to just feed their families, no one cares if a few rich people have to pay a little bit extra on thousands of dollars they probably stole anyway

/ sksm



Last Edited by IssueX on 11/11/2012 05:07 PM

Ha, Ha, Ha !
If someone, no ANYONE, wants to get something,
no ANYTHING, into or out of any country on
Earth, it is usually easily done.

There may be countries where it is more difficult
like North Korea, but still doable.

I can take care of ANY of your needs in this regard.

Art Vandelay - "Vandelay Industries" (export-import)

is this even true surely it wouldnt apply to foregners who have money in the us right?

.
... :laughing01: ... GOOD ONE! ...
.

This will be STOPPED at the Mexican border, buy Mexican police ( for a cut/ la modida ) and result in thousands of negro jobs on our side, as they will be difficult to spot at night AND, give them a ready source of blackmail income, lol.

You're absolutely wrong.

The only thing that has prevented the US dollar from going into a hyper-inflationary spiral, is the fact that at any given moment 60% of it is NOT in the country.

Very soon, within the next couple years, the US dollar will be abandoned as the world reserve currency, which is already on the way as many countries have ALREADY abandoned it. When that happens, trillions of dollars that live overseas, are going to come flooding home and there will be no way to stop the massive inflation.


When bread costs you $50 a loaf, and $80 a gallon for gasoline, remember how you wanted this to happen.