New US law and foreign bank accounts

[firesisle]

Why can't we just hold the dinars for a year, and then pay long term capital gains on them (20% after 2010).

[bigdinar]

the thing that gets me is---there were enough idiots to vote for him to put him in office---I had not better hear one word from the idiots that voted for him.....they knew what he was going to do and still voted for him---they had not better say one word

[archie]

Teresa83 I am so Bless to know there is still sisters in Christ that will stand up for GOD in America

[Highlander]

Firesisle - Nobody knows if this can happen or not. We won't have the andwer to this question until the RV happens and then the stipulation if any are announced. Like whether there will be a cash in window or not.

[whisky runner]

we can still buy the money from over sea countries and put it in our safe ... kind of the same thing ... maybe better to do this than get an account at a bank ... cash in hand

[Dazzleu]

darkstar, do you need to have documentations that you are a non resident alien? If you do where are the forms? Or do you declare this on a need to know basis? Thanks for your time in advance!

[stargazer55]

But then again I don't the people on this site, Den56 you seem to have no problem with people getting killed as long as you get yours.

So is that what this was all about Den? all the death and destruction so we can become rich? You happy about that?

Maybe I'm the ignorant one after all, maybe my fellow Americans really are that greedy and selfish.

Sit on it Nate!

[Barbann]

Wow, it's good to see you selfish people showing your true colors. BUsh sends us to a useless war and the results are thousands of dead americans. But here you creeps are worried about Obama taking your dinar profits and trying to figure out how to cheat on your taxes. If you people can't see the real world other than the BS that you are being fed by the right then I hope the IRS takes all of your money for trying to cheat.

You cannot defend what Obama is doing so you resort to deflecting. If you would bother to educate yourself on what these people are talking about it has nothing to do with cheating on taxes. Since you are so Pro Obama..just how much of your paycheck are you willing to give up? 40-50-75%?? Why not just give it all to them and save them from having to go through the trouble of writing all the new legislation that says they have the right to take it.

[xdmed]

i got this in a offshore a letter from sovereign society what aload of crap that was ssoooooo backdoor in that bill

[Marilyn53]

I wish we could find a way to impeach him so he could never draw a penny of retirement via the taxpayers money AND he would have to go on a healhcare plan just like the rest of us....if that would happen I would be ROFLMAO!!!!! Far as I know, he has yet to produce a birth certificate and he did go to college here on a U S grant as a citizen of Kenya....there is fraud there somewhere!

[xdmed]

But then again I don't the people on this site, Den56 you seem to have no problem with people getting killed as long as you get yours.

So is that what this was all about Den? all the death and destruction so we can become rich? You happy about that?

Maybe I'm the ignorant one after all, maybe my fellow Americans really are that greedy and selfish.

wow nate hate nate who do you think made the loopholes we are looking for i am not going to do anything illegal but i want to get the same breaks as the fat cats who made the loopholes thats right our good ole elected officials make new loopholes in the tax code every year hate on them a little why dont ya we are just trying to figure it out year after year and not just for the dinar but for other things as well

[Marilyn53]

I would still like to know how he got the Nobel Peace Prize and for what? Aaaaaaah, and he would come as a prince of peace and people would adore him....until it was too late!

[ladwiss]

The fangs have already injected ,but the resulting outcome has yet to be felt. I feel nauseous and have difficulty breathing already!!!

I have said it before, and i will say it again. O'bama isn't a leader to us he is a ruler. Hopefully his supporters will realize this, and help boot his rear to the curb in the next elections.

[Lyn LaVigne]

I feel I must respond here. As much as I hate what the health care bill will do to Americans, we need to stop blaming

the president with its passage. The foreign banking law provisions, as well as the health care issues, were passed by Congress!!!!!!

Washington is where we need to clean House and Senate come November. If they will not work for us they should not be there. Let's

remove them and start over, hopefully with men and women who want what's best for this nation. We need officials who will not stuff

pockets and personal accounts with taxpayers' money. Congress needs to legislate banks, bankers, and insurance companies. Restricting

individual bank accounts here or abroad, in my opinion, is bank robbery by Congress. Thomas Jefferson would be furious!

[Marilyn53]

i feel i must respond here. As much as i hate what the health care bill will do to americans, we need to stop blaming

the president with its passage. The foreign banking law provisions, as well as the health care issues, were passed by congress!!!!!!

Washington is where we need to clean house and senate come november. If they will not work for us they should not be there. Let's

remove them and start over, hopefully with men and women who want what's best for this nation. We need officials who will not stuff

pockets and personal accounts with taxpayers' money. Congress needs to legislate banks, bankers, and insurance companies. Restricting

individual bank accounts here or abroad, in my opinion, is bank robbery by congress. Thomas jefferson would be furious!

stop blaming obama for its passage??????!!!!!!! My word...he was the one that did it....even if it had to go to the house and senate! Good lord, not blame him????!!! I have the thousand of pages of the hcr on my computer and intend to read every word of it as soon as i can. You should go online to cspan.gov and download it yourself, but truly obama is the one. Now i do agree we need to clean "houses" and i am all for that, but the damage has already been done. How are you going to feel with the government having access to all your bank accounts for "transfers?" yes, this is in the bill as well...the government will have control of bank accounts, etc." read the bill and the newspapers and get a better feel for what and how obama got it done.

[kl3668]

Does this bill only apply to a individual? How does it effect a US Corporation depositing in a foreign account? How does it effect a US individual with dual citizenship depositing in a foreign account ? How does this effect our taxes if someone was to exchange there IQD ( not USD ) for gold at ali's office, what paper trail is there. Can I bring gold over seas without additional hr2487 taxes applied ? I am not trying to evade taxes, I am trying to avoid additional taxes.

[Joyce Bygall]

Go to KTFM and click on the thread I posted this morning, "Kenyan Gov't Official Brags that Obama is Kenyan born! Quite a news article! Evidence is growing exponentially that he is a fraud! It will come out & he will be exposed for the illegal usurper he is! Both he & his cronies and the greedy ones behind him, that groomed & supported & put him in office! This is huge, as it makes null & void EVERYTHING that he has signed & voted for from Senate days right on down to now! My hope & prayer that it will happen very soon before he can do any more damage & destruction to our country. God bless.

[ronbo62]

K98 Knights - He' already doing it! He is cutting us off at every turn! It won't matter if we vote him out, he has already done the damage & passed the laws that are entangling us hand & feet! Much danger ahead! God bless.

Hello Joyce. Did you know laws were made to be repealed?? Once he leaves office and the public joins together and states their dislikes the power in the house can change his doings. It's just getting enough people with the fortitude to stand and say, "Hey we've had enough of this crap and we're not going to take it anymore". Change these laws or else!!

[ronbo62]

My analysis . . . . after a heated discussion concerning this with a Pro-Obama friend, this may NOT be as bad as we think because . . . . once you have a total of $10,000 or more that you actually have "CONTROL OVER", or what is known as "Constructive Receipt" where you can actually access &/or withdraw & receive your funds . . . . you must file a form with the Govt., or face up to a $500,000 fine anyway.

The concern though is that the off-shore institutions simply will not want the "hassle & expense" of dealing with the US Govt. and will say "Americans NOT Welcome Here", as the Swiss banks are telling the the 30,000 or so Americans living there who are finding it very hard to find a bank there just so that they can pay their bills and buy food in the country that they are living in.

Here is the major demand that the US Govt. Bureaucrats are making to these foreign institutions . . . . . . to require “foreign financial and non-financial institutions to withhold 30% of payments made to such institutions by U.S. individuals unless such institutions agree to disclose the identity of such individuals and report on the bank transactions” . . . Well, if you are putting your money "off-shore", at a certain point (i.e. $10k total) you are required to report this info anyway.

The people I know are putting their money "off-shore" to earn a "much higher rate of return", NOT to cheat the Govt. Let's just hope that this law does NOT cost us these potentially "Higher Return Options" in the future.

Sir. If you put your money in a foreign account and you earn interest or make any money off those investments you will have to pay tax on the money you have earned. Just like it is here in the States.

[williamaik]

Hello all

i have just read the hidden tax law and it does not just apply to US Citizens! It applies to US persons!

definition of a U S Person;

An individual wh is a U S citizen or U S resident alien.

A partnership, corporation, company, or association created or organized in the United States or under the laws of the United States,

An estate (other than a foreign estate),

A domestic trust (as defined in Regulations section 301.7701-7)

as per H. R. 2847One Hundred Eleventh Congress

of the

United States of America

AT THE SECOND SESSION

Begun and held at the City of Washington on Tuesday,

the fifth day of January, two thousand and ten

An Act

Making appropriations for the Departments of Commerce and Justice, and Science,

and Related Agencies for the fiscal year ending September 30, 2010, and for

other purposes.

Be it enacted by the Senate and House of Representatives of

the United States of America in Congress assembled,

SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE; TABLE OF CONTENTS.

(a) SHORT TITLE.

[ronbo62]

I just received an e-mail about a half hour ago wherein contained info that Ms. Pelosi (more like Begosi) is now attempting to further tax an individual's retirement with a new federal tax she wants introduced to Congress. We need basically a new set of faces either by voting out or recalling those that sit on their donkeys in Washington. I have to confess that my wife and I were fooled last November by voting for him (I know, shame on us!!! lol). It seems that we were bamboozled!

Sir! you are correct. We have to vote them out. If the new faces don't do as we like we vote them out. But we have to talk to our kids about the Constitution and the laws that our forefathers wrote. How many here know what is in the Constitution? I bet it's slim to none, Right?? Pelosi is a threat to everyone including herself. That's the type of people we have to get out of office and put new people in that want to change the Government back to what it was originally formed to do.Government weren't formed to run business. lets get them out of business.

[Bull Dog]

I am womdering how this will effect corporations? Our name is not on them persa. I think as Americans we need to get to the point where we as body, tell our government and Obama, NO!!!!!!!!!!!!!!!!!! Enough is enough and we do still have a Constitution which Obama doesn't even know exists. I thiink it is time to seem his Birth Certificagte and just get this over with. Has anybody seen it lately??? Not the one from Hawaii with no state seal.

[ronbo62]

Den56 yes I'm own dinar why else would I be here? I tell myself that this investment is actually helping Iraq, uncle sam, and myself at the same time but that will never make what Bush did OK. I feel a little creepy when I think I could become a millionare from a war that we should never have been in but I also want to be rich. Heart out to your friends son who blewup a stash of WMD but I find it hard to believe that we found WMD and Bush didn't advertise it not matter what the liability, Im mean really. Even so that still does not validate what Bush did, North Korea and Iran are by far, hands down a bigger threat than Iraq ever was so why don't we invade them to if you think this war is so justified? SO yes my point is still is a lot of people have thier panties in a bunch when they think that Obama is personally taking thier money but didn't have much to say when Bush was putting our own in harms way with no real plan.

Nate! what planet are you from? Was the Viet-Nam conflict justified?? I think not. Is it my concern that I put my life on the line in Viet-Nam,Yes. It isn't just about O. It's about our Government in general. Their supposed to help the people, hmmmm Imagine that! If people would get their heads out of their A** and listen to others that know what is going on in this Country things might be a little better. Your not going to tell me that Reagan was chosen when he was a little boy to fill the presidency. Or Eisenhower or even Kennedy. It's the people that vote them in office. If your pleased and satisfied at paying these war-mongers fees for wars and to line their pockets that's your business. But as far as I'm concerned I don't like it. And I'm going to stand up and fight for what I believe is right. And sucking the life out of every hard working man and woman to support some others that don't want to work because they feel the world owes them a living doesn't set well with me. That's what our taxes are doing. Or supporting a kid from an illegal that was born here and the Government says the U.S. taxpayer has to take care of them is just plain Bull****. YES, you **** right I'll go to war if that's what this Country wants. There's people in this Country that are so fed up with this crap that a Revolution is bound to break out. Mark my words. If the 2012 doesn't do something about this world the people will.

[Bull Dog]

As far as the Constitution goes, as I recall of last week, it takes a 2/3rd's vote to pass these bills which is 60 NOT 50!!!!!!!!!!!!!!!!!!!!!!!!

[ronbo62]

But then again I don't the people on this site, Den56 you seem to have no problem with people getting killed as long as you get yours.

So is that what this was all about Den? all the death and destruction so we can become rich? You happy about that?

Maybe I'm the ignorant one after all, maybe my fellow Americans really are that greedy and selfish.

OK Nate. If your so concerned about our boys there in Iraq just turn your Dinar in and you will have a clear conscience and it won't keep you up at night. It will also relieve you of anxiety about the others that are collecting Dinars while our troops are over there in Iraq. If you consider the death that has occurred over there please consider WW1 and WW2 and the Korean war and the Viet-Nam war. It's the human Guinea Pigs that are causing the most damage. The extremists. So even though our troops are in a hazardous place it's our Government that put them there. Not the people buying Dinar.