“A U.S. tax crackdown is coming for foreign retirement plans. The U.S. has been pushing banks and individuals to report overseas assets, making it tougher to hide money abroad with new rules and penalties rolling out under the 2010 Foreign Account Tax Compliance Act. The next wave of scrutiny will cover retirement accounts. Foreign retirement plans generally must agree to report their U.S. account holders to avoid a 30 percent withholding tax on U.S.-sourced interest, dividends and proceeds from the sale of securities beginning July 1. Global companies with programs overseas will need to catalog their funded retirement plans to figure out which ones may be exempt, Hall said.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Boy ordered to change schools for carrying cystic fibrosis gene
Senator Feinstein: U.S. authorities are vigorously pursuing Edward Snowden
Does Anti-Money-Laundering Work? Rick McDonell of FATF Answers
Bitcoin: Understated benefits and overstated risks
U.S. deficit now projected to top $1 trillion starting next year
Lawmakers, aides may get Obamacare exemption
Ravaged by Oil’s Collapse, Venezuela Now Has a Big Gold Problem
Some NSA Opponents Want to 'Nullify' Surveillance With State Law
IRS Probe of Bitcoin Goes Too Far, GOP Warns
Marc Faber: 'This is not a very healthy market'
Gold rush 2013 style has Dubai scrambling
Scotland Yard investigates Diana slay plot as book details conspiracy
NSA and GCHQ target Tor network that protects anonymity of web users
Six dead as thousands of Mursi supporters march in Egypt
Obama Deploys US Troops to Iraq as Insurgents Gain Ground