QUESTION: Vern, our CPA firm has had two clients in the last couple of weeks who have received IRS notices about the filing of Form 3520-A for 2003. Each...
Yesterday, a CPA sent me a question about how the IRS is responding to filing Form 3520-A (for foreign trusts) when the taxpayer requested a second extension...
QUESTION: I have two questions regarding a law that prohibits expatriates from returning to the U.S. 1) Is it true anyone since 1996 who the US government...
QUESTION: I've been offered a job where my salary will be $200,000 a year. I'm a single taxpayer and live in California. Is there anything I can do to...
The following comment about my Q&A regarding expatriation is from Richard LeVine, JD, LLM who is one of the advisors to Offshore Press. Vern It is true as a...
QUESTION: In order to purchase a variety of Canadian Securities, I was informed that I needed to do so via a Canadian Corporation. I'm a US citizen and reside...
How to Quickly Identify a Stroke Victim The following information was forwarded to my wife by a friend in Florida. I checked the Urban Legends web site to see...
QUESTION: Are there any offshore investment instruments (stocks, bonds, etc.) whose earnings (dividends, interest, etc.) are not subject to a withholding tax...
The following comment was sent to me by a reader in response to my comments about withholding taxes and Bermuda. Vern Hi - regarding Bermuda you are correct...
The professional literature for tax lawyers and tax accountants is full of articles about the new IRS Regulations of Tax Advisors, which are now included in...
QUESTION: I am a California resident and US citizen who is planning to send $10,000 to a brokerage firm in Canada to invest in Junior mining stocks. What kind...
I'm not a tax professional, but I've been investing in Candian (and Aussie)resource stocks for more than a decade. Most (not all) of these stocks are also...
We would like to remind you of this upcoming event. May 15th Due Date for Exempt Organizations Date: Sunday, May 15, 2005 Time: All Day May 15th is the due...
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May 1, 2005 5:02 am
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The following are some responses and follow up comments regarding the problem of cross border investing by individuals without the benefit of a foreign...
QUESTION: I have just received an invitation from you to join a group called the International Wealth Protection Monitor, which you say is for subscribers....
QUESTION: "If I am a named Successor of a foreign granted trust and the grantor is still alive, do I need to report this to IRS?" REPLY: According to the...
QUESTION: All but one of the conditions for filing form 3520 have to do with foreign trusts, but the last one seems to involve a large gift from a foreign...
QUESTION: I read on your website (http://www.offshorepress.com/offshoretax/otearnings.htm) that : "For those who are self employed and don't own a corporation,...
QUESTION: I see reports in the news that foreign subsidiaries of US corporations do not pay US tax. What rules must be met for this foreign subsidiary income...
QUESTION: If a US corporation that is not publicly traded (private) sells one share of its stock is that considered income for tax purposes? REPLY: No gain or...
QUESTION: I read with interest your article on Second Home or Vacation Home Tax Benefits. (http://www.vernonjacobs.com/vacation-home.htm) Would I be correct in...
QUESTION: In November of 2001 the IRS rule 1.1275-1 (which I have searched for and can not find – the IRS told me they do not have the tax code on their web...
QUESTION: Your report on Offshore Variable Annuities does not include a discussion of the tax treatment of loans against the contract. I have a private...
June 30 is the Due Date for filing the Report on Foreign Financial Accounts Form TD F 90-22.1 with the Treasury Department. An extension of time to file your...
The following questions were sent to me by a CPA who is a partner in one of the major accounting firms, after he had studied my 30 page report on the filing...
QUESTION: From time to time I'd like to send a copy of your Jacobs Report memos to clients or to associates. Are there any restrictions on duplication of your...
We would like to remind you of this upcoming event. June tax due dates Date: Wednesday, June 15, 2005 Time: All Day June 15th is the due date for the second...
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Jun 8, 2005 5:02 am
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We would like to remind you of this upcoming event. File Form TD F 90.22.1 Date: Thursday, June 30, 2005 Time: 12:00AM - 1:00AM CDT (GMT-05:00) If you or a...
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Jun 16, 2005 5:02 am
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There seem to be an endless number of questions about having to file the Foreign Bank (and Financial) Accounts Report (FBAR) TD F 90-22.1, which is due no...
The following are some additional questions about the Foreign Bank (and financial) Accounts Form TD F 90-22.1 that were not included in my 30 page report on...
