Invest Offshore

Tag: US Tax Consequences

  • Tax Implications – US Tax Consequences

    —

    by

    Aaron
    in

    Unlike almost all other nations, the U.S. taxes all worldwide income of its citizens and of those persons with permanent U.S. resident status. Internal Revenue Code (IRC), section 61 states: “Except as otherwise provided . . .gross income means all income from whatever source derived . . .” The IRS and courts interpret this to…