The Jacobs Report on International Tax Planning is a free e-mail Q&A service about international tax planning, asset protection and related offshore topics. The list is open to the public, but answers to questions by customers and subscribers of Offshore Press will be given priority in the selection of questions to answer. Answers to questions will be provided on a time available basis. The responses to questions are based on the author's interpretation of the relevant tax issues and are not intended to constitute specific advice to any member of this Yahoo Group. The information provided does not constitute authoratative support for any tax issue and may not be relied on to avoid potential IRS civil penalties for negligence. This group is sponsored by Vernon Jacobs, CPA (www.vernonjacobs.com) and by Offshore Press, Inc. (www.offshorepress.com)
COMMENT: Has any one considered these trusts to be "strawmen" and having no assets? The powers of the trustee, the qualified bank are limited to solely making
QUESTION: Does a mortgage held by a foreign bank constitute a financial account requiring disclosure? REPLY: I believe the IRS would probably say it is a
QUESTION: What are the filing requirements for a US citizen who owns a foreign legal entity (LLC, foundation or similar) when the foreign entity owns no
The following is a response to my comments about the Foreign Bank Account Report for a Mexican land trust (Fideicomiso). Vern # # # # # # # # # # # # Vern,
QUESTION: I have a question regarding the Fideicomiso the Mexican government requires you to have in order to own property within a certain area near the