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Enforcement of CBT

One of the main fears of US expats learning about US taxation of nonresident citizens is that the IRS will drain their local bank accounts and force them to pay bankrupting penalties for failure to comply. The purpose of this page is to gather evidence on the reality of IRS enforcement.

One of the main fears that people express is that the IRS will force their bank to pay an outstanding tax liability. The reality

Compliance Rates

FIXME This section is for gathering statistics on the level of compliance.

IRS Procedure

FIXME This section is for outlining how the IRS collections process works.

Administrative Assistance

FIXME This section is for gathering information on the ability of the IRS to get foreign governments to collect on their behalf.

Collections

FIXME This section is for gathering information on the rules the IRS must follow to collect, including the ability to levy bank accounts.

US-based Assets

FIXME Outline Bank Levy process for assets held in the US.

FATCA

FIXME Does FATCA allow my FFI to collect for the IRS? To close my account? (once there's actual information here, cross reference on FATCA page)

Qualified Intermediaries

FIXME A frequent response by the compliance industry is that QI banks must comply with an IRS levy request. This is not in the current QI agreement.

wiki/contents/us_tax/enforcement.1542498324.txt.gz · Last modified: 2018/11/18 09:45 by karen
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