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before you tell me to pay taxes it is a constitutional right to keep my finances private.

2007-05-22 09:37:11 · 2 answers · asked by Anonymous in Business & Finance Taxes United States

2 answers

it may be your right to keep your finances private, but not if you are trying to defraud the government. The IRS has been getting more and more co-operation from offshore entities. An offshore entity may be non-cooperative with the IRS today, but cooperative tomorrow. My advice is report your proper income and pay your proper share of taxes.

2007-05-22 09:47:16 · answer #1 · answered by Anonymous · 1 0

If you EARN the money in the US, keeping it offshore won't prevent the IRS form knowing about it. How you SPEND the money is not a taxable issue in any case. Unless you transfer fund in amount near or above $10,000, even a US bank doesn't report anything to the Treasury Department. Large currency transactions are reported primarily to detect money laundering. Unless you are already under investigation by the IRS, they are completely ignored for tax purposes.

2007-05-22 12:38:54 · answer #2 · answered by STEVEN F 7 · 0 0

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