3 ms·
Having money offshore is ok. Hiding money offshore is not. I'm not a tax accountant, but my lay understanding is that's the letter of US tax law
by kennywinker 9y ago
Having money offshore is ok. Hiding money offshore is not. I'm not a tax accountant, but my lay understanding is that's the letter of US tax law
- eksu 9y agoYes, I think you have it correct for the US. The US is also very unique in which it’s the only country that expects you to pay taxes on money earned overseas as well.
- pedrocr 9y agoNone of these people are earning money in Panama. They're moving their money there and not declaring it. There's nothing US specific about that being illegal.