IRS tax law going after JA bank accounts

[Islandman]

They probably won't unless you start running large amounts through the financial system.

[Rudi]

I am talking about money earned outside of the US...it is still taxable...if you don't declare it how will they know?

Well like how you are now on the wrong side of history look on it like a reverse Trafilgura: someone might inform the US of your Jamaican bank balance. If that were to happen all we would hear from you is

UGGGGGGGGGGGG LOL.

[Plush]

GUys, this is whta the Banks are talking about. It will be very expensive for them...They will be responsible for knowing their clients and notifying IRS. Once they sign the FFI agreement, the will need to change bank forms and get more info from clients to be compliant...IF they don't or are in breach, then penalties will be levied..And if you notice, the witholding is on Gross Proceeds and not income..so banks can be severely impacted...Now ur income needs to be either reported to IRS or the Jamaican Government...Tax Reform coming in JA

[Time]

By name only? US uses a SS#...Jamaica uses TRN#...so how do they know?

Name, date of birth and maybe country of birth in the the TSA database, Just pray that if your Jamaican bank account is fat then Uncle Sam don't spot you on his radar for another reason otherwise dog eat your supper.

[Islandman]

LOL

[Don1]

Well like how you are now on the wrong side of history look on it like a reverse Trafilgura: someone might inform the US of your Jamaican bank balance. If that were to happen all we would hear from you is

UGGGGGGGGGGGG LOL.

LOL!

[Nemesis]

I guess if you wire money from one account here to the other Jamaica they might trace it. Any deposit made to my Jamaican accounts are done by relatives. I can't say I'm not concerned though.

[Hortical]

Transactions over $10,000 in cash (deposits) US are directly reported to the IRS in America. If you use primarily Jamaica documents you may not necessarily show up on their radar, unless you are moving large sums of cash from the USA to Jamaica. I aware of people who deliberately use a local address, TRN# and a local ID for financial transactions because they saw this reporting on the horizon for a long time ago. Some financial institutions including money market brokers frequently copy your USA ID and include that as part of your financial records.

[Jawge]

Cho, yuh bright, yuh wi figga it out (see yuh ah get whole heap ahelp deh). Hope you do before the IRS start tell yuh whey live ah yaad and which house yuh ah sleep inna.

[Bricktop]

Chatting sh!t as usual...just say you don't know and done nuh man

[Jawge]

Okay mi don't know. is fart mi ah talk. IRS cyaan fine yuh as long as yuh use local documents.Yuh skill

[Bricktop]

I didn't say they couldn't...I am simply asking how...and your response is about as intelligible as someone who just drink a big bowl of mushroom tea...all now yuh can't answer the question without going into the matrix...