Offshore Tax Havens (2018) – IRS Dangers of Foreign Income & Accounts

Offshore Tax Havens (2018) – IRS Dangers of Foreign Income & Accounts Offshore Tax Havens (2018) – IRS Dangers of Foreign Income & Accounts (Golding & Golding) Just because you invest overseas into offshore accounts, assets, etc. does not mean you have committed any wrongdoing. There is a major difference between intentionally investing money into an Offshore Tax Haven in order to illegally avoid U.S. Tax, as opposed to legitimately investing into the global marketplace. Offshore Tax Haven A distinction must be made between an offshore tax haven, and moving money offshore. While when most people think of the term offshore, they conjure up visions of sipping Pina Coladas in the British Virgin Islands, Caymans or the Bahamas, the IRS sees it differently. The IRS likes to use the general phrase “offshore” for money that is located out of the United States borders – even when it is completely legitimate. In other…

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