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Posted: 11/18/2012 6:24:08 AM EDT
All this talk about foreign bank accounts, how do people get them?  Do you have to visit a foreign country?  Is the money deposited kept in the local currency?  What is illegal about it, other than not reporting the interest income maybe?

I really don't see much value in foreign bank accounts, so I don't understand why people clamor to get them.  Any insights?
Link Posted: 11/22/2012 2:57:37 PM EDT
[#1]
WOW, Dead silence on this one.

I don't believe there is anything illegal about them.
You still have to report and pay the tax's on any money made though.

Obama wants to distribute youe cut.  
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