IRS rule threatens bank capital flight - News and Current Events | futures io social day trading
futures io futures trading

IRS rule threatens bank capital flight
Updated: Views / Replies:254 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

IRS rule threatens bank capital flight

  #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

IRS rule threatens bank capital flight

(Reuters) - Banks in Texas, Florida and other southern states could face a pull-out of non-U.S. depositors due to a new U.S. rule finalized on Tuesday, industry analysts said.

The rule issued by the Internal Revenue Service will require U.S. banks, starting on January 1, 2013, to report to the IRS payments of interest made to non-resident aliens.

"The reporting required by these regulations is essential to the U.S. government's efforts to combat offshore tax evasion," said an IRS statement announcing the rules' finalization.

The IRS wants to share interest payment information that it gets under the rule with foreign governments in an effort to get them to share more information with the United States.

Two Florida Republicans in the U.S. Congress have introduced legislation that would block the IRS' action, citing concerns it could trigger a flight of non-resident capital.

"The claim that the proposed regulations will cause nonresidents to pull their money out of U.S. banks isn't supported by past experience," said Emily McMahon, the Treasury Department's acting assistant secretary for tax policy last month in a letter to the editor of the Miami Herald newspaper.

Foreigners have many reasons for depositing money in U.S. banks beyond reporting considerations, she said.
Guggenheim Partners financial policy analyst Jaret Seiberg said the new rule "raises the risk that depositors in border states will pull their cash from U.S. banks. At its worst, this could threaten the viability of some of these banks."

Capital from Latin America is a particular concern.
"We would note that banks in Florida and Texas were especially active in arguing against this rule, which we believe indicates that they have the most at risk," he added.

IRS rule threatens bank capital flight: analysts - Yahoo! Finance

Reply With Quote


futures io > > > > IRS rule threatens bank capital flight

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only

Similar Threads
Thread Thread Starter Forum Replies Last Post
Germany and France seek relaxation of bank capital rules kbit News and Current Events 0 January 22nd, 2012 10:29 PM
Basel Weighs Changes to Bank Liquidity Rule kbit News and Current Events 0 December 12th, 2011 12:21 PM
On Capital Flight and Forced Repatriation Quick Summary News and Current Events 0 November 19th, 2011 11:50 AM
Bank Of America Scrambles To Shore Up Capital kbit News and Current Events 0 August 10th, 2011 09:01 PM
IRS Wash Sales Rule monpere Stocks and ETFs Trading 4 December 4th, 2010 04:24 PM

All times are GMT -4. The time now is 11:28 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.07 seconds with 19 queries on phoenix via your IP