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Be wary of your investments -- the TAXMAN is watching

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  • Crikey, you need to stop reading Facebook!!!!!!!!!!

    Having just used a similar phrase above, I did sweat for a second


    At any rate, as Spock said to Captain Kirk after Kirk had convinced the hybrid satellite Nomad that he must self-destruct:

    Your logic is impeccable, Captain. We are in grave danger.

    I find it hard to believe that so many intelligent and insightful people find it hard to understand why a tax collector would be not just logical, but often rather shrewd., not to mention tenacious.

    These aren't the same nimrods we see at the ward office, nor should they be.


    Let's hope they never find this thread............................................ ......................

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    • And SG is wishing they'd just stick to going after the Nigerian owned stripper bar tax cheats.

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      • As should all of us.

        I am going to declare a moratorium on expressions of sympathy for what happened to SG.

        If he doesn't know by now that we're his friends, and at least wish it hadn't happened, he's just being weeeerd.

        Comment


        • Originally posted by kurogane View Post
          I find it hard to believe that so many intelligent and insightful people find it hard to understand why a tax collector would be not just logical, but often rather shrewd., not to mention tenacious.
          Exactly and add ruthless. It's very hard to understand why people seem to think otherwise.

          Comment


          • Originally posted by Brown Cow View Post
            Exactly and add ruthless. It's very hard to understand why people seem to think otherwise.
            I would actually argue that ruthless is unnecessarily pejorative.

            They are just doing their job. They would actually have to persecute and not just prosecute somebody to deserve that, in MYHOMO.

            It's like in the American Godzilla movie where the ickythologist played by Matthew Broderick tells the fat army officer that the monster isn't doing anything out of malice, but is simply acting according to it's nature.





            And I think the surprise so many people express is actually inane.

            It is befuzzling to me.

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            • Originally posted by kurogane View Post
              Let's hope they never find this thread............................................ ......................
              Very good chance they will. And then we're all up Sh!te Creek in a leaking canoe sans paddle.

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              • Originally posted by kurogane View Post
                I would actually argue that ruthless is unnecessarily pejorative.

                They are just doing their job. They would actually have to persecute and not just prosecute somebody to deserve that, in MYHOMO.

                It's like in the American Godzilla movie where the ickythologist played by Matthew Broderick tells the fat army officer that the monster isn't doing anything out of malice, but is simply acting according to it's nature.





                And I think the surprise so many people express is actually inane.

                It is befuzzling to me.
                Yes, that is fair enough. I don't ascribe a particularly pejorative connotation to ruthless, but yes I can see what you mean. Clinical and unswerving then?

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                • Originally posted by edin“ú–{ View Post
                  Very good chance they will. And then we're all up Sh!te Creek in a leaking canoe sans paddle.
                  Yes, I was wondering about that as well. It would certainly give them pause and food for thought.

                  Comment


                  • Originally posted by Brown Cow View Post
                    ...On what grounds do you believe that anyone earning less than 10 million Yen will be ignored unless they remit or import funds? Why 10 million?
                    In the US the IRS puts income $200,000(?) and above in a category where your return is more likely to get look at than those under. I don't have a link but I recall reading NTA does something similar and 10 million was well under their bench mark.

                    Now, I'm not saying you'll be ignored but I don't think you have much to worry about either assuming you don't draw attention to yourself.

                    It's the transfer of funds which seems to get gaijins nabbed.


                    Originally posted by kurogane View Post
                    I would actually argue that ruthless is unnecessarily pejorative.

                    They are just doing their job. They would actually have to persecute and not just prosecute somebody to deserve that, in MYHOMO.
                    Right. It's a job. You come under their radar and they will start asking question.


                    Originally posted by Super Grover View Post
                    ...Look, typical university profs who have been here for a while are earning around 9 million or more. Others are often in the 7.5-9 million range. They invest and they send money back, etc. Indeed, such people are low hanging fruit. And I was squeezed for all my juice..
                    As was mentioned it was the transfer of money. It doesn't appear they were randomly audited.


                    Originally posted by Brown Cow View Post
                    Maybe, but forget about "natural xenophobia" (I actually saw someone use that term on Facebook recently to justify right wing groups) for a moment. If I were a tax inspector and I came across a case where a particular type of taxpayer was not declaring a significant amount of foreign income, I might decide to look at another similar taxpayer. If that again yielded a significant amount of evasion and back tax, why wouldn't I then look for another and then another to examine?

                    That would apply to plumbers, nail bar practitioners, university professors or any other easily identifiable, easily audited group wouldn't it? If the yields were there, you would do more.
                    They probably would if they thought it was worth the time and effort. However, NTA (like the IRS in the States) would likely tell you the yields aren't enough to warrant fishing exhibitions on relatively low-income earners. Better to look more closely at those with a higher income and/or money transfers which catch their attention.
                    Last edited by Ken44; 2013-03-03, 11:10 PM.

                    Comment


                    • Originally posted by Brown Cow View Post
                      Maybe, but forget about "natural xenophobia" (I actually saw someone use that term on Facebook recently to justify right wing groups) for a moment. If I were a tax inspector and I came across a case where a particular type of taxpayer was not declaring a significant amount of foreign income, I might decide to look at another similar taxpayer. If that again yielded a significant amount of evasion and back tax, why wouldn't I then look for another and then another to examine?

                      That would apply to plumbers, nail bar practitioners, university professors or any other easily identifiable, easily audited group wouldn't it? If the yields were there, you would do more.
                      Exactly. +1

                      Comment


                      • Originally posted by Brown Cow View Post
                        ... If I were a tax inspector and I came across a case where a particular type of taxpayer was not declaring a significant amount of foreign income, I might decide to look at another similar taxpayer. If that again yielded a significant amount of evasion and back tax, why wouldn't I then look for another and then another to examine?
                        Why?

                        Because with regards to US citizens NTA would need to file a request with the US Internal Revenue Service and explain why they want to see a particular return.

                        And I don't buy the idea that NTA anymore than the IRS will go through the hassles of contacting a foreign tax agency without a very good reason.
                        Last edited by Ken44; 2013-03-04, 11:45 AM.

                        Comment


                        • Originally posted by Ken44 View Post
                          And I don't buy the idea that NTA anymore than the IRS will go through the hassles of contacting a foreign tax agency without a very good reason.
                          Both the IRS and NTA appear to be saying the exact opposite and have concluded agreements to facilitate easy and comprehensive exchange of information. That FATCA thing again.

                          http://www.treasury.gov/press-center...20US-Japan.pdf

                          Comment


                          • Originally posted by Brown Cow View Post
                            Both the IRS and NTA appear to be saying the exact opposite
                            No they aren't. What they are basically saying is the two countries are in agreement to exchange information should it become necessary.

                            In order to obtain tax info. on a US citizen NTA still needs to submit a request along with a reason.

                            Such information is not readily exchanged between the two countries and I seriously doubt either would do so without good cause.

                            The idea that NTA would contact the IRS and attempt to audit someone on a "hunch" is far-fetched to say the least.

                            Comment


                            • Originally posted by Ken44 View Post
                              No they aren't. What they are basically saying is the two countries are in agreement to exchange information should it become necessary.

                              In order to obtain tax info. on a US citizen NTA still needs to submit a request along with a reason.

                              Such information is not readily exchanged between the two countries and I seriously doubt either would do so without good cause.

                              The idea that NTA would contact the IRS and attempt to run to audit someone on a "hunch" is far-fetched to say the least.
                              I don't agree that is the tone of that statement at all. Quite the opposite.

                              .....a framework for intergovernmental cooperation to facilitate the implementation of FATCA (which would provide for reporting directly between the FFIs and the United States in a manner
                              consistent with FATCA requirements, supplemented by exchange of information on request).

                              E. Japan is supportive of the underlying goals of FATCA, and is interested in exploring a framework for intergovernmental cooperation to facilitate the implementation of FATCA and improve international tax compliance. The United States affirms its willingness to cooperate with Japan by collecting and exchanging information under the existing income tax convention on accounts held in U.S. financial institutions by residents of Japan.

                              Comment


                              • Originally posted by Brown Cow View Post
                                I don't agree that is the tone of that statement at all. Quite the opposite.
                                What matters isn't the "tone" but the way an audit is actually implemented between the two countries.

                                Now, I don't know what hoops the IRS goes through if they want a copy of my J-return but NTA must submit a request along with a reason for a copy of my US return.

                                Which isn't to say they would be refused but to say I find it very doubtful they would do so on a hunch.

                                Neither agency is going to come calling without a good reason

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