Posted by anne on December 6, 2010, 7:04 am, in reply to "Re: HIRE US Legislation"
Here's what Wikipedia(not my favorite source), says of the HIRE act: |
To offset the costs of the Act, there will be a 30-percent withholding tax on income from U.S. financial assets held by foreign banks who have not agreed to disclose their American account holders' balances, receipts, and withdrawals. Owners of these foreign-held assets on their tax returns if they are worth more than $50,000. Individuals who do not disclose these assets will be subject to a 40-percent penalty.
|By posting, you confirm that you have read and agreed to be bound by the board's usage terms.|
Be sure to visit www.lamanzanilla.info