Will Trump end FACTA? He stopped another bunch of BS for doing business over here. I hope so, can't open a bank account Brokerage Crypto, what a nightmare it is here.

 

Trump pledges to nix double taxation for Americans abroad

by Tobias Burns - 10/10/24 11:53 AM ET

On 2/13/2025 at 11:50 AM, Jerry777 said:

Will Trump end FACTA?

Read the fine print.

 

I bet he wants to steal that tax credit America is giving you on your taxes.

 

Learn to think like a criminal.

 

Slapdash smash and grab. ✅

 

slapdash
adjective
done too hurriedly and carelessly.

That would be VERY GOOD.

Is SO stupid that Feds use two different rules and amounts need to reported...

Those laws were made for mega rich moving millions overseas. There is NO NEED to report less than $ 100 000.

FACTA is Treasury not IRS.

2 hours ago, Jingthing said:

FACTA is Treasury not IRS.

 

Actually, it's neither.

 

FACTA (Fair and Accurate Credit Transactions Act), is a federal law that amended the Fair Credit Reporting Act. The act allows consumers to request and obtain a free credit report once every 12 months from each of the three nationwide consumer credit reporting companies.

 

https://en.wikipedia.org/wiki/Fair_and_Accurate_Credit_Transactions_Act

 

Is is possible you're talking about FATCA instead of FACTA.

 

30 minutes ago, Smokin Joe said:

 

Actually, it's neither.

 

FACTA (Fair and Accurate Credit Transactions Act), is a federal law that amended the Fair Credit Reporting Act. The act allows consumers to request and obtain a free credit report once every 12 months from each of the three nationwide consumer credit reporting companies.

 

https://en.wikipedia.org/wiki/Fair_and_Accurate_Credit_Transactions_Act

 

Is is possible you're talking about FATCA instead of FACTA.

 

Yes.

7 hours ago, SiSePuede419 said:

Read the fine print.

 

I bet he wants to steal that tax credit America is giving you on your taxes.

 

Learn to think like a criminal.

 

Slapdash smash and grab. ✅

 

slapdash
adjective
done too hurriedly and carelessly.

 

Elon Musk said all federal workers must explain last week’s work.

 

And he added, stay off the Smack, kids...

 

You'll wind up wearing sunglasses indoors. 😄

Feds don't know themselves what to use for names....

 

"You report the accounts by filing a Report of Foreign Bank and Financial Accounts (FBAR) on Financial Crimes Enforcement Network (FinCEN) Form 114."

 

How do you get "FBAR" of this; "Foreign Bank and Financial Accounts"? I get "FBAFA"

 

Is the reason "Bring The Child To Work" day? And let them do something important...

 

"Each year on the fourth Thursday in April, National Take Our Daughters and Sons to Work Day encourages parents to take their children to work."

 

Having said that they MAY improve now when dim bulbs are in charge... 🙂