interesting Thread from reddit (IRS froze transfer from my personal UAE account to my UAE-based company account. Guidance appreciated!)

[troubled soul]

I find thread on reddit.
https://www.reddit.com/r/dubai/comments/o5x1ei
IRS froze transfer from my personal UAE account to my UAE-based company account. Guidance appreciated!

I'm in the trading business, company in UAE and in Malaysia. One fine day, I wired a payment from my Malaysian company's bank account to my personal UAE bank account and then to my UAE company's account. To my surprise, the latter transfer went missing for a couple days and I got to know the IRS has frozen the funds”¦

After much back and forth with my bank's RM, I was put in touch with an IRS officer who said there's an investigation going on, etc. And now I need to go to US consulate for an interview with supporting documents even though I've shared all via email, BLs and all! No documentation has been given to me about the freeze yet, not even an explanation. First time this happened and I've been doing business from 5 years now.

Not a US citizen, nor do I deal with any US companies.

My questions are

Is it safe for me to go? Not done anything wrong but im scared of getting arrested for God knows what! Can they detain me in UAE?

Any US tax lawyers on here to guide me on why this happened and what I can do to resolve the issue?

I've got angry clients breathing fire down my neck everyday! Would appreciate some advice, down to meet for a coffee too.
Click to expand...

Do anyone put light on this ?
What is happening here ?
Why non us person transfer freeze ?

 

[Golden Fleece]

azb1 said:
I find thread on reddit.
https://www.reddit.com/r/dubai/comments/o5x1ei
IRS froze transfer from my personal UAE account to my UAE-based company account. Guidance appreciated!


Do anyone put light on this ?
What is happening here ?
Why non us person transfer freeze ?
Click to expand...

There are at least a dozen different explanations, including mistaken identity. There is not enough information here. He does not even say whether he does business in the U.S.

 

[JackAlabama]

The currency used is also a crucial piece of information. If usd has been used for transfer, then the us can and will intervene at its discretion.

 

[JimBeam]

We had similar issues where the transfers from US to UAE would get blocked for ATF and AMAL and they would contact the sender and ask for questions.
Couple of times the money got returned to the sender...

 

[troubled soul]

If it is possible ,Best to Avoid USD in offshore world.
It is too much headache and nonsense.

 

[jjrapy]

azb1 said:
If it is possible ,Best to Avoid USD in offshore world.
It is too much headache and nonsense.
Click to expand...

Which currency would you use? EUR maybe?

 

[troubled soul]

jjrapy said:
Which currency would you use? EUR maybe?
Click to expand...

Yeah,
But It is hard in reality. USD is World Currency.
Most top Multinational business directly and indirectly control by USA .
As I said "Avoid If it possible "

Source: Google Search smi(&% smi(&% smi(&% smi(&% smi(&%

 

[JackAlabama]

jjrapy said:
Which currency would you use? EUR maybe?
Click to expand...

Eur/pounds/chf depending on what the banks in question can send (take into account also their correspondent banks and what they can process).
By doing so, you ultimately chose clearing thru London/Frankfurt/Bern instead of NY.

Not always feasible unless you operate a transferwise settings for getting paid from clients worldwide.