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Many Americans maintain foreign bank documents. Some do so to assist you family members who live outside the world. Others do so out of fear in a U.S. bank collapse. Plus some hope to evade taxes and hide their income and assets from Uncle sam. If the figures released by the U.S. Treasury Inspector General for Tax Administration are correct, playing "hide and seek" with Uncle Sam is getting dangerous.

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Since only U.S. banks can be insured by FDIC fantastic deal of the guesswork in picking an online bank recently been dealt with for everyone. You will not ability to to probably the most of that 20% interest Nigerian savings but your money will be safely insured by the FDIC. Via way, the internal revenue service is much happier once your bank is really a U.S. banking concern.