by answerbeggar on October 10th, 2009

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I heard from other people that Obama made a policy to check US residents' overseas bank account from countries all over the world, and that if the bank account that person has exceeds $10,000, then this person would have to pay a fine of $100,000, true?

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by Woodshill on October 30th, 2009
False. However, there has been some discussion about overseas bank accounts with regard to avoiding US taxes.
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I heard from other people that Obama made a policy to check US residents' overseas bank account from countries all over the world, and that if the bank account that person has exceeds $10,000, then this person would have to pay a fine of $100,000, true?

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I heard from other people that Obama made a policy to check US residents' overseas bank account from countries all over the world, and that if the bank account that person has exceeds $10,000, then this person would have to pay a fine of $100,000, true?

Answers. 1 helpful answer below.

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