Quote:
Originally Posted by Tempest
I wonder if this is going to have any implications for people getting paid via Paxum, Payoneer etc.. i.e. this part..
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From what I understood, there are 2 parts to this:
1) Reporting your income (submitting the regular tax forms in the US, even living outside the US). If you reside outside the US and make under something like $80,000 a year, then you won't be taxed anyway. But you have to submit tax returns every year (I only found out about this a couple months ago)
2) Reporting any bank account that has your name on it. This means that if you get your money through Payoneer, Paxum, or any other company but it does not land in your bank account (e.g. you use your card to make payments and withdraw money, and don't deposit it in your account), you shouldn't be affected by this. But if you DO deposit it in your bank, then the US government has deals with international banks that they are forced to give info about any US citizens living abroad that have bank accounts with them. But whatever isn't in your account, isn't affected. I don't THINK eWallets are part of this, at least not yet, but it may be in a few years down the road...