Quote:
Originally Posted by pornguy
If you incorporate OUT side the us. and move all the work into that companies names, then the IRS can not really touch the money. But you have to be able to use it some how, and that is when they will get you.
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Agree PG. There are other possible issues, but basically stemming from the same issue eg there are LMAT's (Legal Mutual Assistance Treaties) in place in a fair number of countries where they will provide cooperation with US agencies if a problem developed. Another is the need to report an interest in any foreign corps - tho there are sub-clauses where this may not be necessary.
Ironically the US used to be one of the best "offshores" and where a foreign corp could invest on markets etc and walk away with the proceeds tax free.
Hehe.. the first para of that rant sounds like someone who has no clue of offshore or literally ranting. No way does any bank or island want OS clients "hiding and laundering narcodollars or the proceeds from other illicit activities" - banks can lose their banking licenses and be shut down within a week if they can't explain the source of client funds and "money laundering" is still an offense offshore.