International Tax Compliance – IRS Tax Audit Strategy
Private placement life insurance is a pre-emptive IRS audit tax strategy that transforms taxable ordinary income and capital gains into tax-free income (with no income tax reporting required under current U.S. Law). Please reference IRS Private Letter Ruling 200244001 (May 2, 2002).
For U.S. Persons with investment income, private placement life insurance provides for compliant, [...]
U.S. to Seek Client Names From UBS In Tax Case
From Wall St Journal 5/15/08 article
“U.S. prosecutors are expected to confront Swiss banking giant UBS AG with a broad subpoena for the names of wealthy American clients who may have used its services to avoid income taxes, according to lawyers and others involved in the case.
The subpoena would follow an indictment, unsealed Tuesday in Florida [...]
Baseball star Canseco loses home to foreclosure
LOS ANGELES (Reuters) – Former U.S. baseball star Jose Canseco said on Thursday he had lost his California mansion to foreclosure — one of the first celebrities to publicly admit being a statistic in the U.S. housing crisis.
Click here for complete article.
The World’s Top Tax Havens
The World’s Top Tax Havens according to Forbes.com
Domestic Tax Havens
Looking to soften the tax bite? Consider what the denizens along billionaire’s row in Incline Village, Nevada, have known for years.Residents of this mansion-studded hamlet on the northeastern shore of Lake Tahoe are not subject to state income taxes because Nevada doesn’t have any, while their neighbors on the lake’s California side can face state [...]
European Tax Scandal reaches U.S.
BERLIN, Feb. 27 (UPI) — Dozens of Germans have confessed to massive tax fraud via Lichtenstein as the affair widens to other countries, including the United States.
Besides Washington, the governments of Australia, Britain and France have announced they are checking whether their citizens were involved in the tax scandal, which got under way when Germany [...]
Loan blame game now in court
Insurance lawyer David Grais has been poring over equations in finance books to get up to speed on his new specialty: lawsuits stemming from the sub-prime mortgage debacle. With his traditional insurance practice slowing down, the 55-year-old partner at a small New York firm began segueing into sub-prime in June, after a friend predicted at [...]
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