“Both taxpayers are treated by U.S. rules as if their actions indicate an intention to evade U.S. taxation” American Expats’ Tax Nightmare, Wall Street Journal Op-Ed | Thun Financial

When a wealthy American living in Chicago moves money to an account in the Cayman Islands or Switzerland the IRS has good reason to be suspicious. Yet there is nothing at all suspicious about an American living in Switzerland opening an account at a Swiss bank to invest in mutual funds. Unfortunately, the U.S. tax code makes no distinction between these two very different scenarios. Both taxpayers are treated by U.S. rules as if their actions indicate an intention to evade U.S. taxation.

via American Expats’ Tax Nightmare, Wall Street Journal Op-Ed | Thun Financial.

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