|
Do You Want to Venture Offshore Without Getting in Trouble with the IRS? This web site was created to provide information for those who have an interest in my professional services. My professional focus is to help U.S. individuals and companies that have non-tax motives for venturing offshore and that are not seeking to evade taxes. After more than ten years of inquiry and study of the international sections of the U.S. tax law, I have concluded that the U.S. government has severely limited the use of foreign entities as a way to avoid U.S. taxes on investment income and that tax deferral for an offshore business is possible but fraught with complex traps for the unwary. For those who are seeking legal relief from high taxes, the answer is rarely found by going offshore. The U.S. taxes its citizens, residents and companies on their world-wide income. Therefore, what works in the U.S. will usually work offshore. About 75% of my time is devoted to my work as an author of books and newsletters, a seminar instructor and the publisher of a variety of books, reports and news letters dealing with asset protection, cross border tax law and related subjects. Through Offshore Press, I provide a very limited form of phone consultation in which I will attempt to explain the law as I understand it and how I believe the IRS is likely to treat a particular transaction. I also provide some very limited tax preparation services involving foreign corporations, foreign trusts and passive foreign investment companies. But I refer about 90% of the inquiries I receive to other international tax professionals with whom I am acquainted. When I do agree to provide tax preparation services, I strongly prefer to provide assistance to a local tax accountant who is familiar with the business and financial activities of the client. In other words, I don't want to do the bookkeeping to organize the information required to prepare the necessary tax information returns. Taxpayers who have failed to file various information returns for foreign entities or investments should seek help from a qualified tax attorney before contacting me. Substantial penalties can be imposed for filing such returns after the due date -- subject to the discretion of the IRS.
Contact Information: Vernon K. Jacobs,
PO Box 8194, Prairie Village, KS 66208
Phone (913) 362-9667 Fax (913) 432-7174. Send Email to jacobs--@--offshorepress.com (Delete the --- in the address) Site Map Home Page |
Books and Services by Vern Jacobs
|
.jpg)
