http://www.accountingtoday.com/news/tax-...397-1.html
There are a number of tax provisions hidden in the USA's congressional highway funding bill.
1. Allows the IRS to employ private debt collectors to collect tax debts. This is crazy as the IRS already has heavy hammers for collection and they will be given to private companies.
2. If an individual owes more than $50,000 in taxes that are in collection, the US gov't can revoke your passport. This, combined with the relatively new FATCA regulation gives the US government alot of power to chase citizens abroad, and lock people in. Consider that FATCA pentalties are $10,000 per undisclosed foreign bank account, per year $50,000 in penalties is pretty darn easy to accrue.
Just a heads up for players abroad.
There are a number of tax provisions hidden in the USA's congressional highway funding bill.
1. Allows the IRS to employ private debt collectors to collect tax debts. This is crazy as the IRS already has heavy hammers for collection and they will be given to private companies.
2. If an individual owes more than $50,000 in taxes that are in collection, the US gov't can revoke your passport. This, combined with the relatively new FATCA regulation gives the US government alot of power to chase citizens abroad, and lock people in. Consider that FATCA pentalties are $10,000 per undisclosed foreign bank account, per year $50,000 in penalties is pretty darn easy to accrue.
Just a heads up for players abroad.
Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV