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Re: HIRE US Legislation

Posted by jonp on December 6, 2010, 12:16 pm, in reply to "Re: HIRE US Legislation"
187.146.88.47

I got it as an e-mail newsletter. The company's web site is www.liveandinvestoverseas.com.
Joel Nagel is profiled here:
www.zoominfo.com/search#search/profile/person?personId=32577424&targetid=profile

Here's a better-referenced article that says essentially the same thing, with citations from the Wall Street Journal:

www.vagabondjourney.com/travelogue/impact-of-hire-act-on-us-expats-living-abroad/

The really salient point that is not stressed elsewhere that is made by the Living and Investing Overseas group is that US banks aren't going to investigate whether your foreign bank is IRS compliant when you wire $5000 USD to it from the US. They are simply going to withold 30%, which you will be able to recoup after you have filed taxes up to 15 1/2 months later.

Hope this helps.

104

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