If I were to get a belize offshore trust to dodge 3 lawsuits, will the irs see that I am using a debit card from overseas even if the charges are under $500
Country/State/Province of question: georgia
Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.
If the IRS, or any US court or tax agency for that matter, chooses to look they will see all except cash transactions. They can even detect these if cash is used to pay recurring living expenses. The first is accomplished by subpoenaing bank record from any banking institutions in your area where the card may be used and the second is by checking your billing account at utility providers. Once they find it they will dig as deep as required. The key word here is IF.
There is another point to be considered. If you are not honest with any and all questions they pose, this will be an illegal act which can lead to fines and even imprisonment. I recommend avoiding any action or statement which could be construed that way.
what I mean is I know the irs is all over offshore banks right now. I heard they are auditing people by seeing people use debit cards from offshore banks. Is this true
Yes, it is true. The IRS is searching for offshore assets held by US taxpayers. Although the primary goal of the IRS is to collect taxes there is no reason any creditor could not use the same methods to get to the same result. IRS audit methods are not kept secret. In fact, IRS audit guides are available at the IRS web site to make access easier for IRS agents in the field. That makes them available to anyone.