Quote:
Originally Posted by Stanford
The IRS arm that processes the disclosure form told me they were an English Company and needed to be disclosed as a foreign account. That isn't true. As you note, they are an American Company.
I did note where the IRS has issued John Doe Summones to Paypal for customer records. So I guess if they will do it with PayPal, they will be doing it with Neteller. But PayPal communicates about what is turned over and what is not. See story here:
http://news.com.com/IRS+to+search+Pa...3-6060920.html
Note specifics required to get information:
"According to the order, the IRS can review the bank and credit card accounts of PayPal members, providing they meet three stipulations.
One is that a "reasonable basis" exists for believing a person may have failed to comply with IRS laws. A second requirement is the investigation relates to a particular person. Furthermore, the information being sought must not be easily obtained through other sources. "
That's a lot different than just handing over a customer list. I think Neteller should communicate with us officially and tell us what they are doing.
Stanford |
Perhaps it is because Neteller are so damn keen to co-operate that the DoJ/IRS have simply "requested" a customer list, even though they have no basis in law to REQUIRE this. If Neteller fall for this in their eagerness to please, then the IRS can go fishing, and will probably catch something worth pursuing that they had no way of catching without the initial "bait" of a customer list. Once they have this "reasonable basis", they can then REQUIRE production of pretty much anything they want.
Our Inland Revenue is nearly as bad, but the rich and their well paid accountants regularly run rings around them and pay far less tax than they shoud, whereas the average person probably pays too much.
On a trip back "home" to Mum, I found out our revenue had been "screwing her over" for the best part of a year. For this incompetence, they had to pay TWO YEARS of back overpayments due to an oddity of tax law I would have probably missed till I was 65, had I not been put to the inconvenience of going through the records rather than playing the latest JF promotion that weekend
