Mexican Bankers May Give IRS Information on American's Financial Assets in Mexico

Read below the Reuters story explaining how the IRS is getting foreign bankers to disclose the details of all of their American depositors.  This process is likely to be followed in Mexico which has the world's second largest number of American taxpayers living, working and owning property there.  Past cases reveal that the IRS will pay substantial whistle blower finders fees to foreign bankers and financial professionals to reveal all data on their American clients. It will only get tougher in the future in Mexico to hide both financial assets and Mexican real estate and business interests.  READ ARTICLE HERE

What the article does not state, is the very probable possibility that this Banker is being paid huge whistle blower fees for revealing all of the information on his ex bank clients.  Those finders fees are large enough to allow the recipients to retire in luxury for the rest of their lives. Turning Americans with assets abroad into the IRS is extremely profitable.  See IRS Form 211 for the form used to turn in Taxpayers in exchange for handsome finders fees.

The IRS has special forms for reporting Mexican corporations, Mexican Fideicomiso Property Ownership, Mexican Bank Account and other Mexican Financial Assets which must be filed with your US tax return. Failure to file those forms  or filing them late can result in penalties of $10,000 or more and possible criminal prosecution. The "good old days" of not disclosing your income or property in Mexico and disappearing fast.