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#1
06-20-07, 02:22 PM
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Taxes again?
Says if we had 10k or more in any foreign bank last year, including Neteller, we need to fill out a new form due June 30th or very bad things will happen.
Is this true?
__________________
"Suffer the pain of discipline or suffer the pain of regret" "Rome wasn't built in a day" |
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#3
06-20-07, 03:33 PM
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Neteller doesnt give interest though, so there is no income based on it. You shouldnt have to report it then right?
__________________
I play a game, it's called insincerity. |
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#4
06-20-07, 03:53 PM
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I just looked at the actual IRS form... unfortunately, you still have to report it if it held over $10K, whether it was an interest baring account or not does not matter.
__________________
GO GREEN!!! GO WHITE!!! |
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#5
06-20-07, 04:10 PM
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This is actually the first I've ever even heard of this. I'm surprised my account never mentioned this to me.
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#6
06-20-07, 04:41 PM
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Nothing new here. I don't think it is anything new that the IRS requires US Citizens report funds held offshore over a certain threshhold.
In the case of accounts in Swiss, Bahamian, or Cayman banks, I've never heard of anyway for them to know about it unless you tell them *or* you create a paper trail by transferring into a US bank.
__________________
"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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#7
06-20-07, 08:15 PM
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Ok guys what about this.
Our money we have in the poker sites is held in a bank on foreign soil (not in our name). What about those ? (Now I am not above the $10,000 mark, so I don't really have to worry about it.)
__________________
I can only be Me, 'cause that is who I am! |
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#8
06-20-07, 10:01 PM
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It is a gray area, but once again, they won't know it is there until you tell them.
__________________
"Animals die, friends die, and I shall die. But the one thing that will never die is the reputation I leave behind." Old Norse adage |
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