IRS to tax "Non Resident Aliens"?
UPDATE:
Full text in english:
http://www.zerohedge.com/article/farewell-america-switzerland
Hi from Germany,
there in an article by a swiss private banker, Konrad Hummler of Bankhaus Wegelin, which is starting to rise attention over here.
Bankhaus Wegelin (about 20 Billion Euro under management) is stepping away from any US engagement because of the plans of the US to apply US inheritance tax to "Non Resident Alien" who inherit US-issued stocks, bonds etc..
Unfortunately, the article is only in german so far, but there are potentially not so funny consequences for the US. Imagine some Saudis worrying about this, because their sons who have studied in the US have become subjects to US Tax laws. As the banks are liable to the IRS, they could consider the risk of purchasing anything american (stocks, bonds etc.) to risky. That`s why Bank Wegelin has made this decision.
Here is a commentary with links to the original swiss commentary:
http://www.goldseiten.de/content/diverses/artikel.php?storyi...
The eagerness to tax everybody could turn out to become a hell of a blowback for the US, if Big Money (yes, there is some outside of Planet USA) decides to tell the IRS to f*** o**.
Cheerio
Fabio
PS:
Looking forward to meet some Paulites at the Munich Oktoberfest ;-)





















Congress has always taxed non-resident aliens
who earn domestic source income. That is one of the few categories of persons on whom the tax is actually imposed. (applying this to inheritance is novel I must say, but not out of the norm for government)
I'm guessing the inheritance link is that since profit was made in the U.S. that the U.S. inheritance laws should apply as well. How you segregate what was passed on to heirs as a result of what was earned here however is a nightmare for an accountant. I'm sure thousands of pages of regulations and a whole new government office under the IRS will be required to be created just to figure it out.
For those of you who don't know, the "income" tax, which the Supreme Court has specifically said is not a tax on "wages" or "salaries" has only been imposed on the following classes of persons:
1) Resident and Non-Resident Aliens earning domestic source income
2) Foreign Corporations earning domestic source income
3) U.S. Citizens residing abroad earning foreign source income
4) withholding agents for groups 1-3
Additionally, many people in this country have volunteered to pay Subtitle C - employment taxes by their participation in the Social Security scam. You ask your boss to treat you as if you were a statutory employee as defined by Subtitle C, even though you aren't and thus you are asking him to deduct and remit employment taxes and report your earnings for you.
People who are otherwise required to pay employment taxes that don't volunteer like most people do, are:
1) employees of the U.S. government, the District of Columbia, or the organized territories. (but NOT State governments or their subdivisions)
2) employees and officers of Federal corporations or corporations which are under contract with the U.S. government
3) employees of a business which is under contract with the U.S. government for the earnings paid under that contract.
These two lists of persons on whom these taxes are imposed make a lot more sense now don't they? (It is perfectly within the power of Congress to tax these groups)
for more information visit http://originalintent.org/education
There is more momentum than ever before,
but the "superpreditor" destroying the planet and it's cultures is large and blind and crushes anything without regard.
It's time for police and militaty personel to take personal responsibility.
"Doing it for the money" is not the research I'm taking about.
We are not as marginalized as one may presume.
With one small razor cut at a time, we will cut our way out of the belly of the python.
“Humans, despite our artistic pretensions, our sophistication and accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”
http://www.foodincmovie.com/
http://www.dirtthemovie.org/
http://endoftheline.com
And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”
when I moved here
I was very surprised to hear that even illegal Aliens can (and do) pay taxes.
They just have no shame. (the IRS, not the illegals LOL!)
Hey Fabio, I got my papers for the Bundestagswahl.
No Ron Paul Party so far? What's up?
(In meinem Wahlkreis in Berlin ist unter der Erststimme sogar ein Schueler idiotischerweise als "Yes we can too" eingetragen !?!)
-------------------------------------------------------
"I think it would be a good idea"
Mahatma Gandhi,
when asked what he thought of Western civilization
No, no "Ron Paul Party"...
...we still can only choose among a variety of more or less socialist parties, the yellow-ones (FDP) being the most treacherous (at least, the others openly say how statist they are and don`t fake to be "liberal" in the european meaning of the word)...
I might vote the "Piratenpartei".
--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)
--------------------------------------
bavaria-for-ron-paul.blogspot.com
Hasta la libertad, siempre ;-)
The Monster (US Govt) needs more food (money)
the government is going to be like an opossum, find food where ever it can , even if it means eating disgusting crap.
Full text in English
Found at zerohedge.com (must read in their and my opinion):
http://www.zerohedge.com/article/farewell-america-switzerland
--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)
--------------------------------------
bavaria-for-ron-paul.blogspot.com
Hasta la libertad, siempre ;-)
Thanks, so much for
the information. It is good to know what is going on since it is so hard to get truthful information here.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
English Link
Zerohedge.com has just provided this link (damn they`re so quick...excellent site):
http://www.swissinfo.ch/eng/news_digest/Wegelin_bank_to_pull...
Wegelin bank to pull out of US
Swiss private bank Wegelin announced on Tuesday that it is to stop doing business in the United States.
The St Gallen-based bank, Switzerland's oldest, said the decision had been taken in response to stricter measures introduced in the US against tax dodgers and planned changes to estate tax, which would make some non-US citizens liable to tax if they inherited US securities.
In a letter to investors it said Swiss banks were likely to find themselves in an untenable position, as they would be expected to know which clients were liable to pay US tax – "an impossible undertaking", given the lack of clear definitions in the matter.
The danger of inadvertently making false declarations to the US tax authorities will be too great, it explained.
It added that it believes the US overestimates its attraction as a financial centre, and is advising its clients to get out of all US securities.
The decision comes a week after US tax authorities reached a deal with the Swiss government which will see bank UBS hand over details of almost 4,500 suspected tax cheats.
--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)
--------------------------------------
bavaria-for-ron-paul.blogspot.com
Hasta la libertad, siempre ;-)
Another reference...
The German article references the Green Book, or General Explanations of the Administration's Fiscal Year 2010 Revenue Proposals.
I missed this, for some reason.. it is worth the read.
http://www.pgdc.com/files/grnbk09.pdf
The thing I missed is on page 101, entitled MAKE REPEATED WILLFUL FAILURE TO FILE A TAX RETURN A FELONY.
So it wasn't before and they had to make it a felony now? Offtopic, but interesting...
~Live life to its fullest, with an open heart, open arms and most important... an open mind~