IRS Database: US Taxpayer information now in the hand's of despots!

[Simpleman68]

This is a link from the FreeRepublic that sent me over the edge:

"The tool is part of the IRS’s effort to track U.S. taxpayer income globally. It is intended to assist FFIs and foreign tax authorities in their compliance with the U.S. Foreign Account Tax Compliance Act (FATCA). The act requires that financial institutions send to the IRS financial information of American account holders or face a hefty 30 percent withholding penalty on all transfers that pass through the U.S. With such steep fines, FFIs and their respective countries across the globe have agreed to comply with FATCA and submit account holder information, regardless of conflicts with their local laws. According to the IRS website, some 112 countries have signed intergovernmental agreements with the U.S., or otherwise reached agreements to comply, and more than 145,000 financial institutions have registered through the FATCA registration system.The tool is part of the IRS’s effort to track U.S. taxpayer income globally. It is intended to assist FFIs and foreign tax authorities in their compliance with the U.S. Foreign Account Tax Compliance Act (FATCA). The act requires that financial institutions send to the IRS financial information of American account holders or face a hefty 30 percent withholding penalty on all transfers that pass through the U.S. With such steep fines, FFIs and their respective countries across the globe have agreed to comply with FATCA and submit account holder information, regardless of conflicts with their local laws. According to the IRS website, some 112 countries have signed intergovernmental agreements with the U.S., or otherwise reached agreements to comply, and more than 145,000 financial institutions have registered through the FATCA registration system. today."

If there ever was a time in the history of the US that Tyranny has truly reared it's sadistic head, it is Obama and this IRS sending OUR taxayer info to any government in the world that chooses to pull up the data:



http://www.freerepublic.com/focus/f-chat/3250558/posts

[mystery-ak]

Hello and welcome to TBR

Here is the rest of the article from the original source

http://www.jdsupra.com/legalnews/the-world-wide-tax-web-fatca-data-shari-57826/

[Simpleman68]

Thanks, my apologies if it was posted elsewhwere. 

[mystery-ak]

Thanks, my apologies if it was posted elsewhwere.

No problem..it's fine..

[Bigun]

This is a link from the FreeRepublic that sent me over the edge:

"The tool is part of the IRS’s effort to track U.S. taxpayer income globally. It is intended to assist FFIs and foreign tax authorities in their compliance with the U.S. Foreign Account Tax Compliance Act (FATCA). The act requires that financial institutions send to the IRS financial information of American account holders or face a hefty 30 percent withholding penalty on all transfers that pass through the U.S. With such steep fines, FFIs and their respective countries across the globe have agreed to comply with FATCA and submit account holder information, regardless of conflicts with their local laws. According to the IRS website, some 112 countries have signed intergovernmental agreements with the U.S., or otherwise reached agreements to comply, and more than 145,000 financial institutions have registered through the FATCA registration system.The tool is part of the IRS’s effort to track U.S. taxpayer income globally. It is intended to assist FFIs and foreign tax authorities in their compliance with the U.S. Foreign Account Tax Compliance Act (FATCA). The act requires that financial institutions send to the IRS financial information of American account holders or face a hefty 30 percent withholding penalty on all transfers that pass through the U.S. With such steep fines, FFIs and their respective countries across the globe have agreed to comply with FATCA and submit account holder information, regardless of conflicts with their local laws. According to the IRS website, some 112 countries have signed intergovernmental agreements with the U.S., or otherwise reached agreements to comply, and more than 145,000 financial institutions have registered through the FATCA registration system. today."

If there ever was a time in the history of the US that Tyranny has truly reared it's sadistic head, it is Obama and this IRS sending OUR taxayer info to any government in the world that chooses to pull up the data:



http://www.freerepublic.com/focus/f-chat/3250558/posts

Welcome aboard simple man68!

The simple fact is that we will never again be a truly FREE people for so long as we continue to abide the Marxist income tax and the IRS!

http://fairtax.org

[Oceander]

Thanks, my apologies if it was posted elsewhwere. 

No apologies needed.