Do Americans still have any financial privacy?

The IRS wants to know everything. Even if your foreign account isn't paying you interest or any kind of income!

Living aboard doesn't mean that you can keep your affairs away from the IRS either!

http://www.bloomberg.com/news/2010-...ore-accounts-said-to-face-u-s-tax-probes.html

 

If they are investigating abroad, it implies to me that they are on top of all the tax cheating in the US and that ain't likely.

 

where is the news?
well known FBAR form was around for years,decade to be exact-

http://www.irs.gov/businesses/small/article/0,,id=148849,00.html

you probably can, if you keep them not on your name AND spend the money some place else,not USA. for many reasons it's a pretty dumb idea to smuggle 200K in cash back to in USA(if i undestand the article correctly)

 

there is no financial privacy for law abiding citizens.

 

Where's the ACLU on this horrific issue of privacy?

 

Remember, if you have nothing to hide you have nothing to fear.

Financial privacy is for money laundering, terrorist financing, and tax evasion.

You lot asked for it, and you all get exactly what you deserve.

 

Can you elaborate on that statement please?

 

Excellent.

So a man from the gov. tells you that you are hiding assets offshore.
How are you going to prove that you are not.

Remember the burden of proof lies with you.

 

Renounced your citizenship if you want privacy of any sort. End of discussion.

 

IRS is far less intrusive than the financial institutions. Take the credit report for instance, they know every credit card, bank, etc transaction you made and conspired to compile the report. Americans are pretty much naked in front of financial institutions.