Re: foreign account reporting due July 2
[ QUOTE ]
I contacted the IRS/Treasury Department Foreign bank directly and confirmed with them that e-wallets such as Neteller are reportable foreign accounts for U.S. foreign bank account reporting (due July 2, 2007.)
While I was at it I asked about monies at online gambling sites such as PartyPoker. This was their reply:
"As for a response on the Party Poker account, it may be harder to determine if it is reportable. If it is just a transfer service account it is not considered reportable."
It is my belief now that:
Most likely, most of monies are held at PartyPoker, PokerStars, etc. not reportable. While all non-US online e-wallets are reportable.
FYI
Chip CPA
[/ QUOTE ]
I contacted the IRS today by phone and the representative said poker accounts were reportable on form 90-22.1 going back five years.
|