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Donjulio
Nomad
Posts: 376
Registered: 5-19-2009
Member Is Offline
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| Quote: | Originally posted by Bob and Susan
don
you are posting this as a fact
and its hear-say
"One of my friends here in San Felipe..."
just because you heard it doesn't mean it's completely true
there MUST be more facts that occured for this to happen |
When the person it happened to is sitting in a chair across the table from you explaining the events it isn't hearsay. I really don't care whether you
believe it or not. If I was going to get on here and make up stories I could come up with something a lot more entertaining than something about the
IRS and the bank.
And WHY does there have to be more to the story? Its pretty straightforward and simple and was posted in order to possibly help someone keep from
ending up with a major problem.
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by Donjulio
| Quote: | Originally posted by Bob and Susan
don
you are posting this as a fact
and its hear-say
"One of my friends here in San Felipe..."
just because you heard it doesn't mean it's completely true
there MUST be more facts that occured for this to happen |
When the person it happened to is sitting in a chair across the table from you explaining the events it isn't hearsay. I really don't care whether you
believe it or not. If I was going to get on here and make up stories I could come up with something a lot more entertaining than something about the
IRS and the bank.
And WHY does there have to be more to the story? Its pretty straightforward and simple and was posted in order to possibly help someone keep from
ending up with a major problem. |
Next time just pass him the keyboard and have him first type he is a guest of your BN log on. I've never seen that done, but I wouldn't give someone
grief if they did it that way to avoid a second-hand accusation. I'm a smart guy, and my tax guy is a friggin' Mensa, but there is no rhyme or reason
as to who the IRS will take down and how hard they come down when they do. Times I thought for sure I owed- and the IRS says I didn't, and the other
way around too.
He could become a true ex-pat and denounce his citizenship in the USA as some tax scoundrels are doing- but not if he ever wants to collect Social
Security or use Medicare. If he isn't paying taxes on his Mexico income, they will pile-on additional charges like willful tax evasion- so things are
not going to get any better for him if the IRS has him in their sights. If he thinks he can waltz back across the border without setting off alarms-
he is mistaken there too at this point. They are going to extraordinary measures for some reason- and everyone here is just glad it isn't us.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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Donjulio
Nomad
Posts: 376
Registered: 5-19-2009
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As I mentioned, he lives and works in Mexico and had for several years went back and forth. He still takes care of his mom in the US and so maintains
two residences. He did file taxes in the US and Mexico and has taken care of his responsibilities up until the time when the economy took a dump and
put him in a bad financial position as it did to many others. So he got to a point where he could not make his payments, hence the lien. He is not or
has not tried to avoid them or do anything illegal. Owing the IRS money is not illegal. Tax evasion is illegal. Many people are in a position where
they can't make payments on homes, credit cards, cars etc. right now. So trying to make him out to be a bad guy is not the thing to do either.
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aldosalato
Nomad
Posts: 183
Registered: 10-20-2002
Location: La Paz
Member Is Offline
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IRS throwing bombs to US citizen real estate investors abroad
It was mentioned on the Gringo Gazette this week. A property that is lived in by beneficiary of Fideicomiso or relative MUST be taxed at fair rental
value as distribution of the Trust.
FATCA: Uncompensated Use of Foreign Trust Property
June 25, 2010 by admin
Filed under: FATCA
The uncompensated use of foreign trust property by a U.S. Grantor, a U.S. Beneficiary, or a U.S. Person related to either of them is treated as a
distribution by the trust for non-grantor trust income tax purposes (which also includes the loan of cash or marketable securities by a foreign trust
or the use of any other property of the trust).
The distribution treatment of foreign trust transaction has been expanded to include the uncompensated use of property by certain U.S. Persons. The
treatment of foreign trusts as having U.S. beneficiaries for grantor trust purposes has been expanded to include loans of cash or marketable
securities or the use of any other trust property to or by a U.S. Person.
If a foreign trust permits the use of any trust property by a U.S. Grantor, a U.S. Beneficiary, or any U.S. Person related to either of them, the fair
market value of the use of such property is treated as a distribution by the trust to the Grantor or Beneficiary (IRC §643(i)(1), as amended by the
2010 HIRE Act).
This treatment does not apply to the extent that the trust is paid the fair market value of such use within a reasonable time (IRC §643(i)(2)(E), as
added the 2010 HIRE Act). If distribution treatment does apply to the use of trust property, the subsequent return of such property is disregarded
for federal tax purposes (IRC §643(i)(3), as amended by the 2010 HIRE Act).
http://www.procopio.com/userfiles/file/assets/files1/what-ha...
More on FATCA
http://www.lexology.com/library/detail.aspx?g=1c544371-b3c7-...
http://www.journalofaccountancy.com/Issues/2010/Aug/20102736...
http://www.aca.ch/joomla/images/pdfs/treasury.pdf
[Edited on 9-23-2010 by aldosalato]
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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Take good care of your friend. Make sure the stress doesn't get to him or that he becomes depressed. Going through this and having to care for an
aging relative can wear anyone down faster then they know. You're a good friend.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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Thank you Aldo!
OMG!!! From what I got out of the information in these URL's, Uncle Sam has gone off the deep end to wring every last ounce of blood
& pennies out of those of us who have chosen to retire abroad on limited retirement/Social Security income! 
It's more very important legalese mumble-jumble for us to try to make heads or tail out of! Why the #*%+& can't they write this stuff in layman's
terms? Even the tax specialists are challenging the vague terminology & poorly/undefined requirements! All part of a successful plan to
intimidate & confuse the hell out of us!  My head hurts!! 
Sincere thanks to you for posting this Aldo!!
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oldjack
Nomad
Posts: 350
Registered: 1-26-2006
Location: Los Barriles
Member Is Offline
Mood: retired
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So..... how many IRS agents/employees read this forum??? it seems the more we learn the less we like what transpires... I wish I had money to
hide/protect.... but then maybe "they" are taking names and posts......
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by oldjack
So..... how many IRS agents/employees read this forum??? it seems the more we learn the less we like what transpires... I wish I had money to
hide/protect.... but then maybe "they" are taking names and posts...... |
Of course you jest. The USA gov't stores every single e-mail, text message and post. They have a special software program that scans everything you
do on-line for "homeland security" information. If you want privacy- it doesn't exist in cyberspace... your footprints are everywhere. I'd like to
think they only watch the bad guys- but history tells me otherwise. If you say or do do nothing wrong- don't even worry about it.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by oldjack
So..... how many IRS agents/employees read this forum??? it seems the more we learn the less we like what transpires... I wish I had money to
hide/protect.... but then maybe "they" are taking names and posts...... |
I personally wish the IRS DID read this forum, I think it would give them a more accurate insight into the reality of the bulk of
retirees in Mexico....which would be a LOT more accurate than the stab in the dark efforts they're making 95-98% wrong assumptions about! Until they
can find a way to isolate the true big buck tax evaders, their efforts will cost more than they'll net in "found money" from the group they're
currently targeting. And IMO, it's going to cost us more to prove that point to the IRS!
I do feel they should be looking for offshore tax evaders....but I believe even more strongly that they haven't come close to their target yet!
Personally, I believe the reverse is true....they're going to create a whole new senior generation of low-income tax evaders!
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by longlegsinlapaz
| Quote: | Originally posted by oldjack
So..... how many IRS agents/employees read this forum??? it seems the more we learn the less we like what transpires... I wish I had money to
hide/protect.... but then maybe "they" are taking names and posts...... |
I personally wish the IRS DID read this forum, I think it would give them a more accurate insight into the reality of the bulk of
retirees in Mexico....which would be a LOT more accurate than the stab in the dark efforts they're making 95-98% wrong assumptions about! Until they
can find a way to isolate the true big buck tax evaders, their efforts will cost more than they'll net in "found money" from the group they're
currently targeting. And IMO, it's going to cost us more to prove that point to the IRS!
I do feel they should be looking for offshore tax evaders....but I believe even more strongly that they haven't come close to their target yet!
Personally, I believe the reverse is true....they're going to create a whole new senior generation of low-income tax evaders! |
You are right legs, but of course the gov't already knows full well who the deep-pocketed politically-connected tax evaders are- both private and
corporate. They just follow the path of least resistance even if the return on their time and effort is small.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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BajaBruno
Super Nomad
Posts: 1035
Registered: 9-6-2006
Location: Back in CA
Member Is Offline
Mood: Happy
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This information from the IRS Manual may clear up some questions about how simply the IRS can seize foreign funds.
Section 10. International Seizures and Forfeitures
9.7.10.2.1 (05-22-2006)
Bilateral Treaties
1. A Bilateral Treaty is an agreement between two countries that specifies the mutual forfeiture assistance that the countries will provide to
each other. The terms of the agreement are included in a document known as a Mutual Legal Assistance Treaty (MLAT). The United States has ratified
MLATs with many jurisdictions. A current list of MLAT countries can be located on the CI Web, International Section.
2. Bilateral Treaties, in simple terms, are laws that require cooperation between two countries. All of the existing treaties contain provisions
for providing records and for "freezing" and/or seizing assets. They have also helped to regularize the international forfeiture cooperation between
treaty partners.
[from the International Section list]:
Master List—TAX TREATIES, MLATs, SCIPs, TIEAs, HAGUE EVIDENCE CONVENTION
Mexico ---- signatory to all
Christopher Bruno, Elk Grove, CA.
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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| Quote: | [..... Uncle Sam has gone off the deep end to wring every last ounce of blood & pennies out of those of us who have chosen to retire abroad on
limited retirement/Social Security income!
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The Hiring Incentives to Restore Employment (HIRE) Act, signed by Obama on March 18, 2010 is supposed to provide incentives to small businesses to
hire more people.
Bob Durrell
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knuckles
Nomad
Posts: 140
Registered: 9-15-2009
Location: I am never sure anymore :)
Member Is Offline
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| Quote: | Originally posted by longlegsinlapaz
OMG!!! From what I got out of the information in these URL's, Uncle Sam has gone off the deep end to wring every last ounce of blood
& pennies out of those of us who have chosen to retire abroad on limited retirement/Social Security income!
It's more very important legalese mumble-jumble for us to try to make heads or tail out of! Why the #*%+& can't they write this stuff in layman's
terms? Even the tax specialists are challenging the vague terminology & poorly/undefined requirements! All part of a successful plan to
intimidate & confuse the hell out of us! My head hurts!!
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#$%^&*! ya think? This only scratches the surface. Be afraid, very afraid and find a good hiding place for your cash. Makes me mad just thinking
about it !... 
[Edited on 9-24-2010 by knuckles]
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C-Urchin
Nomad
Posts: 234
Registered: 12-17-2008
Location: La Paz
Member Is Offline
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IRS lien and Bancomer
| Quote: | He should go to "Fast Eddy" !!! 
He owes US federal income tax on his Mexico income too then. I hope he picks a state to file in that has no tax (NV, TX, TN, etc).
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*Be the man your dog thinks you are
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sanquintinsince73
Super Nomad
Posts: 1495
Registered: 6-8-2010
Location: Los Angeles, CA
Member Is Offline
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| Quote: | Originally posted by Woooosh
| Quote: | Originally posted by oldjack
So..... how many IRS agents/employees read this forum??? it seems the more we learn the less we like what transpires... I wish I had money to
hide/protect.... but then maybe "they" are taking names and posts...... |
Of course you jest. The USA gov't stores every single e-mail, text message and post. They have a special software program that scans everything you
do on-line for "homeland security" information. If you want privacy- it doesn't exist in cyberspace... your footprints are everywhere. I'd like to
think they only watch the bad guys- but history tells me otherwise. If you say or do do nothing wrong- don't even worry about it.
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I'd better stop thinking bad about the government or those jack-booted thugs are going to follow me to San Quintin.
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BajaRat
Super Nomad
Posts: 1304
Registered: 3-2-2010
Location: SW Four Corners / Bahia Asuncion BCS
Member Is Offline
Mood: Ready for some salt water with my Tecate
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Render unto Caesar what is Caesars. If you owe it pay it. Set up payments, move on life only gets shorter. P.S. Thanks for the post, I believe your
intentions were good.
Even the smallest Quail would peck your eyes out if he could.
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karenintx
Senior Nomad
Posts: 540
Registered: 3-16-2008
Location: CSL
Member Is Offline
Mood: Living The Dream
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I can't remember if we had to give our ss# when we opened our checking accounts (dollars & pesos) but I do remember we had to provide not only our
FM-3 but we also had to provide our US passport. Why I don't know.
Wouldn't it be easy for the IRS to follow the paper trail thru the passport?
Also with the "fidi" we provided our USA passport...can't remember if the bank or the attorney asked for our ss#. Must be my "CRS" disease!
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