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30%

Post by SunsetKid on Thu Aug 16, 2012 3:23 pm

Has anyone figured out how to keep the IRS from taking 30% of any money transfered here from the US starting Jan 1, 2013. See H.R. 2847 Title V Section 1474
Foreign Account Tax Compliance Act?
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Re: 30%

Post by johninajijic on Thu Aug 16, 2012 3:43 pm

SunsetKid wrote:Has anyone figured out how to keep the IRS from taking 30% of any money transfered here from the US starting Jan 1, 2013. See H.R. 2847 Title V Section 1474
Foreign Account Tax Compliance Act?

I don't know, but they tried that BS with me about 3 years ago and my Broker fought them on it. In the end, they took no taxes out.

I don't get their thinking. When you take money out of your account, they issue a form to you and the IRS. It's not like you're trying to cheat the IRS.
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