Do Americans still have any financial privacy?

[eternitysgarden]

Quote from sosueme:

Excellent.

So a man from the gov. tells you that you are hiding assets offshore.
How are you going to prove that you are not.

Remember the burden of proof lies with you.

Yeah blotto is dumb as shit isn't he.

 

[fullblotter]

Quote from turkeyneck:

Renounced your citizenship if you want privacy of any sort. End of discussion.

haha if ONLY it were that easy. isn't there a "law" where you have to pay taxes for 10 years after renouncing citizenship if you did it for tax reasons?

 

[Sodajerk]

Quote from sosueme:

Remember the burden of proof lies with you.

I wonder about that.

The law on the books guarantees due process, which includes the burden of proof being on the prosecution.

 

[jagadish]

What about the money Swiss bank accounts?

 

[hippie]

Quote from Sodajerk:

I wonder about that.

The law on the books guarantees due process, which includes the burden of proof being on the prosecution.

The IRS is not know for due process. Still, I they need some evidence for it.

 

[Dr. Zhivodka]

And then use a foriegn national, close personal friend of course, to reopen accounts and W-8 the whole process in the states? Because everyone in the world knows that the U.S. is the best a most pominet tax haven in world.

Great Idea. I wish I would have thought of that?

Quote from turkeyneck:

Renounced your citizenship if you want privacy of any sort. End of discussion.

 

[SomeYoungGuy]

Quote from jagadish:

What about the money Swiss bank accounts?

What about it? Swiss banking secrecy is a thing of the past. UBS was the first to buckle under pressure from the US, now all Swiss banks are suspect.