There are so many reasons that this rule is odious that I don't know where to begin. Let me just summarize with the following: Unless Congress changes the law, the IRS is not responsible for helping foreign tax collectors squeeze more money out foreign taxpayers. Moreover, the White House has been grossly misleading about U.S. compliance issues, so their assertions lack credibility. Please read the Constitution of the United States and proceed under the limits imposed by that document. That would also mean that you are not authorized to confiscate the wealth of Americans on behalf of foreign nations.
Comment on FR Doc # 2011-00082
This is comment on Proposed Rule
Guidance on Reporting Interest Paid to Nonresident Aliens
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