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Message Subject The Sun is Setting Rapidly on the American Empire
Poster Handle Anonymous Coward
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bilateral or multilateral agreements are indeed forcing foreign banks to report US citizen accounts, to report them, so IRS and State Dept can pursue them, obligate them to report income, to submit yearly tax returns, to pay penalties for not doing so in the past -- even though they have been out of the country for years and dont even consider themselves citizens anymore. Many ex pat dual citizens are renouncing as it is complicating their lives, that of their spouses, jeopardizing their (foreign) income, pensions property and accumulated savings (with taxes duly paid to foreign govts)...
 
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