Good afternoon all,
I know that a number of our residents are concerned about the new IRS policies regarding certain kinds of money transfers from the US to their local bank. The referenced article from Bloomberg , to me, presents the issue in a very informed and fair manner. The key points here are that only 'certain' monies (meaning current income) would be involved in this. And then, only if the information on the US citizen involved is incomplete. And, finally, they are really only interested in those with bank accounts over a half million dollars. I would suspect that that might leave a few of us out!
IRS Delays Overseas Bank Reporting Rule Criticized by Aegon
Regards,
Price Peterson, warden
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