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Politics : Technical Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Paxb2u who wrote (5750)	4/6/2013 12:05:01 PM
From: Beam	1 Recommendation Respond to of 14245

Pax -- I think that's a good question to ask someone like Mitt Romney. Love to know how he does it. Even though I live fulltime in Canada, as a dual US/Canadian citizen, the US government/IRS has a treaty with Canada that allows them (US) to confiscate my money if they see fit. The US requires that I report all my Canadian bank accounts, addresses of these banks, my highest balances for each account in the reporting tax year, and that I might, as currently written, even be required to pay taxes on any earnings in my Canadian tax-free savings account which is funded with after-tax dollars and exempt from further taxation in Canada. While people like Mitt somehow manage to "legally" hide their wealth around the world, I must report to the US IRS every last penny of money earned in Canada and all the places that hold my money/investments in Canada under the threat of huge penalties and lengthy prison time for any violations -- oversights may be construed as deliberate evasion. Failing to file could result in both fines and imprisonment. Late filings are subject to huge penalties. As far as protecting physical PM holdings -- one of the few exemptions in 1933 was for numismatic purposes, so coin collections, if they can be proved to be such and not just hoarding metals, might be exempt. Perhaps there's an IRS guy out there who might be able to give us more informed info on this.