In February, 2007, Senators Levin, Coleman and Obama introduced the Stop Tax Haven Abuse Act for the ostensible purpose of curtailing alleged abuses of the tax...
QUESTION: I read that people who do barter deals have to pay taxes on what they get and they have to send a report of some kind to the IRS. Since no money...
QUESTION: Speaking of barter... I earned, via numerous Credit Card charges, a million points, one point for each dollar charged on a Visa Card, then converted...
QUESTION: How can the IRS find out if a barter transaction has taken place -- particularly if the transaction takes place outside of the U.S.? If I used a...
QUESTION: If I decide to set up a foreign LLC and elect to have it treated as a disregarded entity so that taxes flow onto my 1040, can you tell me if I only...
Scammers are trying to take advantage of a provision in the recently-passed federal stimulus package to steal personal financial information from retirees or...
QUESTION: WHAT ARE THE BENEFITS, IF ANY, OF FILING IRS TAX RETURNS FOR AN LLC AS A SUB S CORPORATION? REPLY: I've never done that for a client and have not...
COMMENT: I know this has been discussed before, but if someone has a foreign annuity of insurance policy, such as a variable insurance product, in which you...
QUESTION: I have a new client who is a US person who set a trust a couple of years ago for her brother and his family who all live overseas and are Canadians....
QUESTION: I'd appreciate your help in completing the FBAR for a client who plays on-line poker. The reporting on this form has become more specific – for...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal April 15th Tax Returns Wednesday April 15, 2009 All Day (This event...
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Apr 1, 2009 5:02 am
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Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal April 15th - 1st Estimated Tax Due Date Wednesday April 15, 2009 All...
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Apr 1, 2009 5:03 am
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Vern - i wanted to comment on your reader's question below. Many practitioners i'd spoken with online in the past have stated that it's a definite grey area...
QUESTION: since March 30th (firing of GM CEO...) no less than eight (8!) well-heeled clients have contacted me asking for guidance on the tax and legal aspects...
Offshore Press + Freedomfest 2009 in Vegas Here is a great deal for those of you who are interested in our offshore tax seminars! We usually charge from about...
Senator Levin, President Obama and others who are using offshore tax havens as scapegoats for excessive spending are claiming (with a straight face) that the...
For those of you who are more trusting than I am with regard to email (or less paranoid), I just received a somewhat clever email claiming to be from the Bank...
QUESTION: I recently came across this IRS information. http://www.irs.gov/newsroom/article/0,,id=206012,00.html In the IRS Commissioner's Statement, it...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal May 15th Due Date for Exempt Organizations Friday May 15, 2009 All Day ...
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May 1, 2009 5:02 am
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I received the following from a CPA on this list. "The 3 month extension for 990/990ez is made on Form 8868. You may want need to send another message...
If you haven't noticed, President Obama has recently announced a proposal to dramatically change the current tax rules for doing business or investing...
Questions about the FBAR form have been among the most frequent of any one topic in this Yahoo group. In 2006, I compiled my answers to all of the questions at...
QUESTION: A Costa Rican corporation that has U.S. shareholders purchased a lot for development or to simply hold and resell for a profit. Can you explain how...
QUESTION: I have a question about social security + medicare tax obligations which I hoped you could answer. I know it is possible to avoid those by opening a...
Here is a series of questions about the Foreign Bank and Financial Accounts report to which I decided to respond because it seems they would of interest to...
QUESTION: If a person has all his FORMER assets in offshore trusts or life insurance policies, how does that affect him if he should decide to expatriate? My...
QUESTION: What are the "tax-free" advantages of an offshore Cayman Islands bank account? Can you suggest an offshore bank / location and / or a service for...
I frequently postpone registering for various education programs for a variety of reasons and sometimes end up being too late. But there is still time to...
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal June tax due dates Monday June 15, 2009 All Day (This event repeats...
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Jun 8, 2009 5:03 am
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The IRS is making a really BIG deal out of the annual report on disclosing foreign financial accounts. Form TD F 90-22.1 is available at the IRS web site at...
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