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cwulff1999
Joined 2010
Posts: 40

Capital Control In The U.S. - H.R. 2487 - Hire Act

14 years ago

Hello All,

Has anyone looked into the bill H.R. 2487 that was passed on 3/18/10? It is imposing a 30% tax on money sent or being held in a foreign bank account. It was buried in the HIRE ACT that was passed to help stimulate small business hiring. You can google it if you haven't already done so.

What is your take on the affect it will have on expatriates? It is in regards to the transferring of U.S. dollars outside the U.S. borders. It is written in legalese and I have a difficult time translating it into plain understandable language.

If I understand what I have read it seems it is going to be 30% more expensive to become a resident of a foreign country. Hopefully, I am wrong.

Any information would be appreciated.

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Expat Community > Ecuador

Capital Control In The U.S. - H.R. 2487 - Hire Act

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