Global Capital. Clear Intelligence.
FATCA, or the Foreign Account Tax Compliance Act was passed as part of the HIRE act of 2010. Designed to take United States tax compliance beyond the borders of the United States and into foreign territories to prevent the loss of potential billions of dollars in tax revenue, FATCA tightens compliancy standards and increases transparency … Read more
WARNING: U.S. Persons who Purchased a Retirement Plan, Savings Plan issued from the Isle of Man, Dublin, Guernsey or U.K. Life Insurance Company are holding a British Style Life Policy (lump sum or savings plan) which requires annual reporting as a PFIC and suffers annual taxes on the growth of 36.9% and huge annual penalties … Read more
Most of the bad word of mouth associated with offshore investment, tax havens and the like involves an interchange of the phrases ‘tax mitigation’ and ‘tax evasion’. As the focus of tax law in the United States and elsewhere turns to tightening a grip on ‘lost’ revenue from offshore investment holders (a seemingly punitive series … Read more
The entertainment and news media paint a dark and shady picture of offshore investing but this is far from a normal occurrence. Most offshore investments are perfectly legal and may offer advantages over national investment. The simplicity of the term tells you that offshore investing takes place away from your country of residence. The purpose … Read more
Physical gold storage offshore is in some cases being sold on the basis that the USA person does not need to report it to the IRS. There must be some risks in the purchase of physical gold that many people would not want to accept. Here’s is what one offshore advisor had to say about Offshore Gold … Read more
Patrick Cox, CEO of TaxMasters, Gives Tips on Some Common Taxpayer Mistakes That Can Lead to IRS Audits HOUSTON, Feb. 10, 2011 /PRNewswire/ — As we enter yet another tax season, many individual taxpayers and small business owners share fears about being audited by the IRS, often fueled by misconceptions concerning the audit process and … Read more
It’s a US Treasury, IRS and FATCA approved path which has been created to open an offshore account which has unlimited rights to global investment choices. Your US Trustee maintains your reporting and US Tax Compliance. There is no need for you to report to the IRS as the Trustee reports annually on your behalf … Read more
”This is not a small correction to the existing Tax-Haven regulations,” says one international tax lawyer. Federal regulators are proposing new rules aimed at curbing efforts by multinational businesses to shift income to low-tax jurisdictions overseas, according to reports. The proposal focuses on how high-tech, pharmaceutical, and other companies value intangible assets such as research … Read more
AccountingWEB.com – The Internal Revenue Service is targeting wealthy executives and entrepreneurs to ferret out would-be tax dodgers. The IRS has not focused on individual tax returns of the well-to-do for years, the Wall Street Journal reported, but is becoming more aggressive after studying the results of a 2003 pilot program covering 24 big companies, … Read more