QUESTION: I have a self-directed IRA, and am planning to take it offshore. It will invest in an offshore LLC, which will then invest in the offshore mutual...
QUESTION: I have a CFC and have just completed my first 5471. I understand how salary and dividends from the CFC are reported on my 1040, but what about...
QUESTION: If an Isle of Man variable annuity is owned by a Nevis LLC taxed as a partnership, will the LLC owner(s) still receive the benefit of tax deferral on...
QUESTION: if an individual forms an offshore trust, and that offshore trust owns a domestic LLC, will that domestic LLC show up anywhere on the individual's...
QUESTION: I have two questions that perhaps your international readers may find relevant as well. 1. What is the maximum limit dollar amount that someone may...
QUESTION: What are the US withholding or filings requirements for a US LLC, owned by a nonresident alien (NRA) or foreign company, for services performed...
QUESTION: While I appreciate your taking the time to answer questions about international tax law, I'm much more interested in an open discussion forum where ...
Foreign Bank and Financial Accounts Disclosure Requirements By Vernon K. Jacobs As a reminder, the foreign bank account disclosure form (FBAR) is due no later...
QUESTION: I have a question regarding the definition of a "bank" in your post. I have an account with a private credit union situated outside of the United...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal June tax due dates Sunday June 15, 2008 All Day (This event repeats...
JacobsReport@yahoogro...
Jun 8, 2008 4:59 am
593
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal File Form TD F 90.22.1 Monday June 30, 2008 12:00 am - 1:00 am (This...
JacobsReport@yahoogro...
Jun 16, 2008 4:59 am
594
Freedom Fest 2008 FreedomFest is a huge 3 day conference on a wide range of investment, economic, political and other topics with close to 100 speakers. I'll ...
QUESTION: I was reading your publication on passive foreign investment companies (PFICs). PFICs in my industry have been difficult to administer. We solely...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal File Form TD F 90.22.1 Monday June 30, 2008 12:00 am - 1:00 am (This...
JacobsReport@yahoogro...
Jun 23, 2008 4:58 am
597
The following was in response to the previous Q&A about whether a US fund administrator or the investment manager was responsible for reporting the PFIC...
QUESTION: I am trying to get the information for how to apply for an EIN for a US person who owns a Nevis LLC. I cannot figure out if they fill out a SS-4 and...
I received the following email today from a customer who bought and read a copy of our report on due diligence for offshore investors. I don't get many letters...
QUESTION: I was looking for information about how the U.S. taxes a gain on the sale of a residence outside the U.S. and found a web page where you said that...
Response: I read that currency gain or loss (i.e. current income taxed at a higher rate) has to be separated from the US$ gain or loss (potentially taxed at...
You might have noticed that I haven't answered any questions the first half of this month. The main reason is because I'm busy with trying to help a client to...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal July 31st Tax Returns Due Thursday July 31, 2008 All Day (This event...
JacobsReport@yahoogro...
Jul 17, 2008 4:58 am
604
COMMENT: In clicking on the web address for the special report, nothing would come up. I tried the copy and paste method and this did not work either. I'd...
The following comment was received in response to the Q&A about the treatment of foreign currency gains in connection with the sale of a principal residence...
QUESTION: Is there an inconsistency here? This is from your web page at http://www.offshorepress.com/vkjcpa/confidentiality.htm "But the biggest and most...
QUESTION: If I had an investment in a foreign mutual fund for the past few years, but did not realize I needed to file an 8621 form, what must I do to remedy...
COMMENT: It seems like all this discussion about going offshore is futile. The U.S. government is now using strong arm tactics to bully other countries like...
This is from an international tax lawyer I've known for many years. (Vern) ... A few additional thoughts on the crackdown on offshore accounts. Note that this...
QUESTION: Have question about reporting requirements to IRS for an Allocated metal assets held by the Perth Mint (Australia) on behalf of clients..." Mint says...
I received the following from Steve Odem regarding the previous Q&A about the Perth Mint certificates. He spent some time at their web site whereas I responded...
QUESTION: I just read with great interest your book, the Controlled Foreign Corporation Tax Guide. The following paragraph was of particular interest to me: ...
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