QUESTION: I recently read your article "Tips for Preparing the Form 5471 for Controlled Foreign Corporations" in the Tax Advisor. I am presently trying to...
Here is a most interesting comment from a member of this group regarding the common practice of forming a corporation to purchase real estate in Central and...
QUESTION: I read your article entitled "US Taxation of Foreign Currency Gains or Losses" with much interest. One aspect of this issue that I do not see...
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...
The following is a response to my comments about the Foreign Bank Account Report for a Mexican land trust (Fideicomiso). Vern # # # # # # # # # # # # Vern,...
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...
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...
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: I turn 59 and one-half in a few weeks, and believe I have a reasonable understanding of the retirement plan distributions, Roth conversions etc.,...
The following comment about converting from a regular IRA to a Roth IRA prior to expatriating is a reminder that in the tax law, "The Devil is in the details."...
QUESTION: I am considering expatriation. 1. I receive Social Security. Will I lose it if I give up my U.S. citizenship? 2. To avoid the "exit tax," one needs...
QUESTION: A friend was once given advice that if he owned less than 5% of a foreign corporation and all the other owners were unrelated to him and not u.s....
Yesterday, I responded to a question about whether a 2% penalty (excise tax) for individuals that are not covered by health insurance would be imposed on a...
QUESTION: I wonder if anyone KNOWS how many American expats are living outside the U.S., in total and by country. Also, I wonder how many living elsewhere...
QUESTION: There are a number of forums, groups and blogs that I would like to send a lot of your comments to. I don't see a copyright notice on your memos....
COMMENT: In your reply to the HIRE ACT, you stated that the basics of reporting for the FBAR are unchanged but: "a provision that requires any U.S. person who...
Comment: I think it is important here to look at the big picture. I'm wondering if the new requirements will make it even more likely that foreign banks and...
806
JacobsReport@yahoogro...
Apr 1, 2010 5:12 am
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal April 15th Tax Returns Thursday April 15, 2010 All Day (This event...
807
JacobsReport@yahoogro...
Apr 1, 2010 5:12 am
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal April 15th - 1st Estimated Tax Due Date Thursday April 15, 2010 All Day...
Here is a follow up to the question of whether the new asset disclosure report will require reporting a Mexican land trust that holds residential property. ...
This is from David Tanzer, a U.S. attorney who lives "down under" and works in the U.S. (Vern) COMMENT: In follow up to the Hire Act asset disclosure comments,...
QUESTION: On the FBAR report for my LLC that is classified as a partnership with just me and my wife, on line # 24- is it going to be 0,1,or 2? i can't...
QUESTION: What is the procedure for asking a question to this newsgroup? I emailed the question directly to jacobsreport@yahoogroups.com, but got the following...
QUESTION: I am a normal middle class person that just needs to know if I have to pay federal income tax legally? If you could just give me a yes or no answer. ...
QUESTIONS: Does being married to a foreign citizen without any US ties change the net worth limit determining covered vs uncovered expatriates? If expatriate...
QUESTION: Obama and his ilk keep talking about how he has reduced taxes. A reduction in taxes to me is lowering the tax rate. All I know of is the reduction...
Vern, I'm always a few days behind in reading your posts. I wanted to point out one item in your 4/14 reply re expatriation and gifts to a non resident alien...
QUESTION: Given that term life, by definition, will not meet IRC Sections 817 or 7702, what is your opinion on how the death benefit on a term life policy will...
817
JacobsReport@yahoogro...
May 1, 2010 5:10 am
Reminder from: JacobsReport Yahoo! Group http://groups.yahoo.com/group/JacobsReport/cal May 15th Due Date for Exempt Organizations Saturday May 15, 2010 All...
