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[quote=”DavidCMurray”]U.S. citizens are obligated to pay taxes under the IRS Code regardless of where they earn their income. Basically, you must report your income, expenses, taxes, etc the same as you would if you were in the U.S.
There is a Foreign Earned Income Tax Credit in the IRS Code. It’s around $83,000 per year. [b]But you still have to declare the income, etc as if you were in the U.S.[/b][/quote]
The Foreign Earned Income Tax Exclusion for 2011 is 92,900 and it goes up to 95,100 in 2012. So, while you have to report it, you have 92,900 to 185,800 (with a apouse) that can be excluded from your active earned income if you have established CR as your foreign tax home. This is still the best deal going.
If reports can be believed, there is a general estimate from the IRS that roughly 67 million people do not file federal income tax returns. 47% of filed returns have no tax liability. Coincidentally, that is 67 million income tax returns that paid nothing in federal income taxes. Added to the 67 million who do not even bother to file, and that leaves less than half of the adult population filing and paying taxes.
Even if this is incorrect information, when one considers that NONE of the tax money collected goes for infrastructure, and most of it goes towards interest paid to thieving bankers, foreign wars and aid to murdering, terrorist proxy states like Israel, it seems insane to even consider wanting to belong to the minority of suckers who file and pay into this scheme.
http://www.americanthinker.com/2011/06/our_wiley_coyote_moment_has_arrived.htmlSome snippets from the 27th December New York Times article on FATCA:
“Congress came in with a sledgehammer,” said H. David Rosenbloom, a lawyer at Caplin and Drysdale in Washington and a former international tax policy adviser for the Treasury Department. “The Fatca story is really kind of insane.”
“The Fatca legislation treats all Americans with overseas bank accounts as criminals, even though most of them are honest, hard-working individuals who happen to be living and working or retired abroad,” said Jacqueline Bugnion, a director of American Citizens Abroad.
[ http://mobile.nytimes.com/2011/12/27/business/law-to-find-tax-evaders-denounced.xml ]
Just another law intended for the few REAL offenders that will only scare the hell out of the sheep, and make so many run in fear to give up more information about themselves! After all it’s been the sheep keeping the system afloat all these years! The bulls always seem to have a way of avoiding the cost of any new tax scheme!! Fear is the mind killer! Thru fear and intimidation so many folks give up all kinds of information that the government has no right, reason, or legal mandate to demand. And now, as Scott has sited… in an article in the NYT that I read yesterday as well…. it seems you’re guilty and must prove otherwise. That’s not what the guys that put together the Constitution intended.
I have to agree that unless you place yourself on the radar, intentionally by filing… or unintentionally by drawing attention to yourself…. it’s best to leave the issue be! Make them work for it! Seems trying to chase someone that simply failed to file a form that even if they had would have resulted in no tax liability would be a MAJOR waste of time and resources! If they’re as efficient at finding you as they are with everything else they do… you’ll be fine!
Having dealt with a number of agencies in Costa Rica as most folks on this board have… can you imagine the IRS having much luck looking for you or your inactive S.A. holding a 14 year old Toyota with a bad muffler? The one you failed to disclose with your tax return?…. You’d have to be a REALLY big fish for them to spend the time and effort to go after! But they like to scare people… it’s the main tool they have in seeking compliance.
Providing any information to the IRS about NON income producing assets only places them on the radar, not only for the government but anyone else interested in what you have, where it is, and how THEY can get their hands on it!
Well put. I believe fear is one of the main tools being used to control the population. I can’t be too condescending towards all those “fearful suckers” out there who worry over every crossed T and dotted i when they file tax returns because I was once one of them. No more.
Civil disobedience has to be massive to be effective and I doubt there is enough courage left in the American public to fill a thimble even if they were all miraculously awakened. Nonetheless, there remains a moral compulsion to confront bullies wherever they appear. The IRS is one big bully. They say bullies are the biggest cowards of them all, though.
when i looked at the IRS website, they had a table that showed your tax liability on foreign assets if you owed x, y, and z, and there was no amount UNDER $2,000,000. As soon as i saw that, i stopped fretting. are they going to come after me for having $40 in an account to pay Aerocasillas??? I don’t think so!! jejeje
The foreign banks are being extorted to release names of US citizens or S.A.’s with US citizen sharholders. Let’s not forget that there is a passport # in the originatinmg juridica paperwork. If the banks do not comply, then 30% of any funds originating from the US banking system to their bank must be withheld until they comply. Most banks will just start not accepting US customers rather than comply (2/3’s in one of the think tank polls). This really makes you a pariah of sorts if you are American, doean’t it? Even though we spout free trade and investment in underdeveloped nations out of one side of our mouth. How can you have both?
I hope you are all aware that the language we have been using in this thread when speaking of the IRS and our “relationship” to that unconstitutional organization is exactly what could be used in describing an enemy that hunts us.
http://www.libertyforlife.com/constitution/us-16th-failed-ratification.htmThe IRS, the banks and the governments see us as either slaves to be harvested or enemies, depending upon how well we comply with their goals. President Obama quietly signed recently drafted legislation which declares American citizens as potential enemy combatants and authorizes the military and the TSA to arrest, detain indefinitely, torture or even kill us without our having recourse to courts.
http://waitingforthestorm.com/state-of-terror
Under these circumstances, it may be time for many to consider which role offers more honor and dignity; the role of obedient and fearful wage slave or that of enemy combatant.
Here is the link to the latest article related to FATCA:
[url=http://www.nytimes.com/2011/12/27/business/law-to-find-tax-evaders-denounced.html?_r=2&pagewanted=1&nl=todaysheadlines&emc=tha25]http://www.nytimes.com/2011/12/27/business/law-to-find-tax-evaders-denounced.html?_r=2&pagewanted=1&nl=todaysheadlines&emc=tha25[/url]
In spite of all objections and resistance, US keeps pushing it.
[quote=”sapronov”]Here is the link to the latest article related to FATCA:
[url=http://www.nytimes.com/2011/12/27/business/law-to-find-tax-evaders-denounced.html?_r=2&pagewanted=1&nl=todaysheadlines&emc=tha25]http://www.nytimes.com/2011/12/27/business/law-to-find-tax-evaders-denounced.html?_r=2&pagewanted=1&nl=todaysheadlines&emc=tha25[/url]
In spite of all objections and resistance, US keeps pushing it.[/quote]The IRS is nothing more and nothing less than an enforcement arm of the IMF. How much more evidence does one need to conclude that a global elite is making some final moves towards total, full spectrum dominance of the planet? There is nowhere to run. Costa Rica is no refuge. Sooner or later, everyone will either have to submit or make a stand.
Here we are discussing our personal tax liability to the current USA political regimes newest scheme to take more of our money, while the thieves that run the regime help themselves to whatever funds they can get their hands on. The USA is a lawless society and if you’re crony of the controlling regime you can take what you want. Look at Jon Corzine; former head of Goldman Sachs and founder of MF Global, (the largest FCM; Futures Commission Merchant in the USA); this man has stolen in excess of a billion dollars. Why did he do it? Well, he’s not stupid. This is a former head of Goldman Sachs. This man doesn’t have a low IQ. Why in the world would a man wake up one day and decide to take all the customer segregated funds in the FCM that he controlled, which was the biggest FCM in the country?
Because he knew upfront that he could get away with it. And the reason he got away with it is because he is in tight with the Obama regime. He’s one of Obama’s highest fundraisers. Earlier this year Jon Corzine had a fundraiser dinner at his NYC apartment for Obama where rich cronies paid $35,000 a plate. Corzine gathered huge funds for Obama in one evening. He’s a crony of the regime. There’s no rule of law for guys like Corzine and his poor clients are helpless to do anything because there’s no law enforcement against a member of the regime. There is no longer justice in the USA and no nation, culture or society can survive if there isn’t a foundation of justice. That’s why the USA is teetering on the precipice of collapse and civil war is inevitable. As is obvious by the new NDAA law allowing for the lifelong imprisonment of American citizens on US soil, by military force, without right to a trial or access to an attorney. The regime is currently funding the FEMA facilities and they are being opened and staffed to function as the concentration camps where the politicians will incarcerate those who defy the laws they’ve created for their own benefit. And we’re worried about paying those thieves what they dictate we owe to them. When is enough, enough?i couldn’t agree with you more, tom, but the rich thugs operate with impunity and the little guy get made an example of what happens when you defy them. i hope that something or someone gets Corzine — maybe the people he stole from will get a lynch mob together. they should put him in the same cell as Bernie Made-off!! jeje
Fatca – The Menace You’ll Hear About in 2012 – The Atlantic
It is the Foreign Account Tax Compliance Act of 2010, or Fatca. The problem originates in US government efforts to prevent future offshore-banking tax scams … http://www.theatlantic.com/national/archive/2011/12/fatca-the-menace-youll-hear-about-in-2012/250667/
KEEP THE PRESSURE UP: Encourage people to sign the anti-FATCA petition (http://www.signon.org/sign/repeal-fatca?source=c.em.cp&r_by=188650) to write their members of Congress, to share their personal tales of how this will affect them with ACA (via the secure portal: http://www.aca..ch/persexp.php) and add comments to articles on the subject and on blogs. Encourage affected financial institutions to protest to Treasury and lobby Congress, write joint letters to American ambassadors …. Help raise the volume (both quantity and loudness) of anti-FATCA protests.
and here’s some more entertainment with the crooks portraying themselves.
I think the time has passed for talk. Emails and blogs and conversations attempting to wake up those who are asleep won’t do enough to stop what has already been put in motion. It’s over. The elites win. As far as I can see, there are only two options: stay and resist or try to escape. Voting and writing your congress is a complete waste of time. They don’t care about us and those who control them see us as useless eaters and enemies. The only thing left for us to do is to salvage our dignity by non cooperative resistance or try to get out of the way of the coming steam roller. If you stay put, pay your taxes and mortgages, keep your money in banks and use their credit cards, you are playing right into their hands and your place in their world will turn out just as they planned.
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