re: #124 sattv4u2

A little. The monies are already taxed BEFORE they end up in a “Swiss Bank Account”. What the gov’t objects too is that they can’t tax the interest earned YEARLY if the bank is not in the US (think of your end of year savings acct statement, you have to put the interest earned as income on your 1040)

The gov’t already took a bite out of the original apple, and will get more if the depositor takes the money from a Swiss account and spends it in the US

They can and do tax foreign interest. There’s a section on your tax form for it.