COMMENT: Marty…: My respected Australian broker in Sydney, to my horror today, has, for the first time, just asked me to supply the USA Internal Revenue Service with my Tax File Number because of a new requirement in the W8-ben form, otherwise he advises me that I will run the risk that they may withhold 30 […]
QUESTION: You said that if you owe taxes the government can deny you a passport? I never heard that one. ANSWER: Oh yes. This has been in place for several years. The Wall Street Journal just reported that “at least 362,000” Americans will be unable to renew their passports because of back tax bills. […]
In 1935, Roosevelt introduced “The Social Security Act” which passed Congress. However, the act was described “Old Age, Survivors, and Disability Insurance.” At first, the Act covered only industry and commerce. It was later extended to include farm operators in 1955. The SS tax was to be at the rate of 3% of income up to […]
QUESTION: Hi Martin, I am familiar with the case of Robert Kahre who eventually lost a battle with the IRS for paying his employees in $20 gold pieces to avoid payroll taxes. However, do you think holding foreign currency gold pieces in a foreign bank account would be different from a US tax perspective so that […]