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The US Will Unleash The IRS
On Russian Banks In July

Associated Press, by Stephen Ohlemacher

Original Article

Posted By:quantumman, 5/6/2014 2:06:42 PM

WASHINGTON - As the United States attempts to punish Russia for its actions in Ukraine, the Treasury Department is deploying an economic weapon that could prove more costly than sanctions: the Internal Revenue Service. This summer, the U.S. plans to start using a new law that will make it more expensive for Russian banks to do business in America. "It´s a huge deal," says Mark E. Matthews, a former IRS deputy commissioner. "It would throw enormous uncertainty into the Russian banking community."

Comments:
This hurts Pooty Poot worse than Zippy´s and Jean Francois´s tongue lashings of late.


Source corrected by staff.

      


Post Reply  

Reply 1 - Posted by: Redneck In NY, 5/6/2014 2:22:28 PM     (No. 9838614)

So our government is admitting that they can use the IRS to punish those it disagrees with? Hmmm, where has this happened before...

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Reply 2 - Posted by: rarebear, 5/6/2014 2:22:30 PM     (No. 9838615)

Russia can likewise retaliate against American companies doing business in Russia. Maybe they could start with General Electric.

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R-G1
  


 
Reply 3 - Posted by: enemyofthestate, 5/6/2014 2:23:45 PM     (No. 9838620)

Put Lois Lerner on the case.

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Reply 4 - Posted by: Miss Daisy, 5/6/2014 2:33:04 PM     (No. 9838629)

Don´t be mistaken. This is not an action directed specifically at Russia. This law affects all countries. It´s a nightmare for expats where many foreign banks are refusing to open accounts for American expats because of the FATCA requirements.

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Reply 5 - Posted by: secondtimelucky, 5/6/2014 3:12:22 PM     (No. 9838674)

please remember who´s economy is based upon air. It´s neither Russia nor China. Russia is already trading in non-USD currency with some countries - I´m not totally certain a finance ´´war´´ is a great idea. It may feel like ´´yeah - we´re gonna git them Russkies" but take a long long look at the potential for downline retaliation.



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Reply 6 - Posted by: nimby, 5/6/2014 3:14:56 PM     (No. 9838676)

Guess they are done with the Tea Party!!

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Reply 7 - Posted by: Mai Bad, 5/6/2014 3:22:27 PM     (No. 9838687)

Yo...yo..Putin has absolutely nothing to worry about. When was the last time the IRS went after any large corporation? They are pretty good at going after Ma and Pa Kettle average citizen and non-approved NGOs but big banks with real lawyers??? Not so much.

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R-VAR_AD
  


 
Reply 8 - Posted by: Ray_Stoddard, 5/6/2014 4:09:15 PM     (No. 9838757)

When your only tool is a hammer, everything looks like a nail.

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Reply 9 - Posted by: stablemoney, 5/6/2014 4:22:10 PM     (No. 9838777)

Obama, Holder, and Jack Lew have turned the IRS into brownshirts for the democratic party.

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Reply 10 - Posted by: TulsaTowner, 5/6/2014 5:02:47 PM     (No. 9838829)

The Obama administration MWD.

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Reply 11 - Posted by: TulsaTowner, 5/6/2014 5:29:41 PM     (No. 9838854)

I beg pardon - should be WMD.

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Reply 12 - Posted by: Democracy First, 5/6/2014 6:21:49 PM     (No. 9838915)

Between now and July, Russian banks can take all the steps needed to protect themselves. Sheesh! Nothing like letting the cat outta the bag, ØbaMugabe.

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B-G1


 

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