Quote:
Originally posted by Giorgio_Xo
Tax evasion and tax avoidence are two different things. As long as you have a legal offshore entity and don't repatriate the funds, the IRS can't legally do a single thing.
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I just watched something about this a few weeks ago. You may have a LEGAL offshore entity, but if that entity serves no real purpose other than to funnel money away from tax responsibility, they are starting to classify you as a tax evader. From what they said, this is because this type of hollow entity is becoming more popular recently.
And in all truth, it IS tax evasion if your entity does nothing more than shield you from taxes.