The American government, already the toughest in the world on its expatriate citizens over taxes on overseas income, is turning the screws on the world's international banks in the hunt for tax cheats. New laws require the banks to report on those with more than US$50,000 in overseas accounts or face dramatic withholding tax increases.
American Expats, Beware
American Expats, Beware
American Expats, Beware
The American government, already the toughest in the world on its expatriate citizens over taxes on overseas income, is turning the screws on the world's international banks in the hunt for tax cheats. New laws require the banks to report on those with more than US$50,000 in overseas accounts or face dramatic withholding tax increases.
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