U.S. Tax Guide for
Foreign Trusts

An Income and Estate Tax
Compliance Guide for U.S. Grantors
and Beneficiaries of a Foreign Trust

by Vernon K. Jacobs, CPA and
J. Richard Duke, JD, LL.M.
 

If you are a U.S. citizen or U.S. resident alien who has (or wants to have) assets in a foreign trust, then you need this book.

If you are the beneficiary of a foreign trust, then you need this book.

If you are a foreign trustee, an attorney who facilitates the formation of foreign trusts, an investment advisor who manages the assets in a foreign trust or an accountant who keeps the books for a foreign trust owned by a U.S. person, then you also need this book.

A great deal has been written by many estate and trust lawyers about the law as it relates to the protection of assets in a foreign trust, but very little has been written about the complex U.S. tax rules that apply to the U.S. settlor/grantor or the U.S. beneficiary of a foreign trust.

Richard Duke is a prominent and highly respected trust and estate attorney with expertise in international tax law. He drafts foreign trusts for U.S. clients and advises them on the tax compliance rules imposed by the IRS.

Vernon Jacobs is a CPA who has written extensively about foreign trusts and related tax matters and who has prepared the tax returns for U.S. grantors and beneficiaries of foreign trusts.

Together, they provide a technically accurate and understandable guide to the arcane and often ambiguous tax rules that apply to the U.S. grantors and beneficiaries of foreign trusts.

The penalties for non-compliance can be severe, regardless of whether it is intentional. Late filing penalties can be obscene even if the trust has no income.

This book unravels many of the obscure instructions, convoluted tax code sections and ambiguous regulations to assist taxpayers and their advisors to avoid pitfalls and penalties by understanding what is required for compliance.

No one should  establish or manage a foreign trust without this essential and understandable guide.

How to Order

The e-book (digital) version is $65.  A PDF copy of the report will be delivered via email  after receipt of your order.  (The e-book edition is recommended for international orders.) There are no restrictions on printing the e-book, but the use of the e-book is limited to a single office.

A printed edition is available for $87.00 which includes shipping via U.S. Priority mail in the U.S.  The printed edition of the report is  published in a three ring binder. Delivery usually takes from three to five work days.

A full copy of the report is also included in the International Wealth Protection Online Library, which includes all of the e-books, reports and articles published by Offshore Press, Inc. Subscriptions to the online digital library are $240 for one year.

Those who prefer to order with a check or money order should send it to Offshore Press, Inc., PO Box 8137, Prairie Village, KS 66208

If you are disappointed with the book for any reason, we will refund your money without any hassle or delay.

Vern Jacobs
Offshore Press, Inc.

As required by U.S. Treasury Regulations governing tax practitioners, any written tax advice contained herein cannot be used by any taxpayer for the purpose of avoiding certain tax penalties that may be imposed under the Internal Revenue Code. For further details see http://www.offshorepress.com/vkjcpa/disclosurerules.htm


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  U.S. Tax Guide for Foreign Trusts

How to Order


Or -- Send  a check/money order to Offshore Press, Inc., PO Box 8137, Prairie Village, KS 66208.  

Your money back if you are not totally satisfied.

Book Specifications

75 Pages (8.5 x 11) Single spaced, 14 point Arial Font

The printed edition is distributed in a 3 ring binder (8.5 x 11) and is delivered by U.S.P.O. priority mail. Postage is included for orders in the U.S.A. The digital (eBook) edition is recommended for international orders.

Table of Contents
Preface
About the Authors
Introduction
Domestic vs. Foreign Trust
Tax on U.S. Grantor
Tax on Grantor for Various Investments
Transfer of Appreciated Assets
Tax on U.S. Beneficiary
Foreign Tax Credit
Estimated Tax Payments
Withholding on Payments to Foreign Trust
Estate and Gift Taxes
Scams and Schemes
Tax Treaties
Miscellaneous Foreign Trusts
U.S. Tax Classification of a Panama Foundation
Forms That are Required
Tax History
    Tax Reform Act of 1976
    1996 Small Business Jobs Act
    1996 Health Insurance Portability Act
    Tax Relief Act of 1997
    Job Creation Act of 2002
    American Jobs Act of 2004
    2005 through 2008 Tax Laws
Glossary
Selected Tax Code Sections

Review Copies

Review copies will be provided to Editors and Columnists of recognized media.  Send requests by email to jacobs1 (at) kc.rr.com

About Richard Duke

J. Richard duke, JD, LL.M.
Richard Duke has been selected by Worth Magazine as one of the "Top 100 Attorneys" in America in their December, 2005, 2006, 2007 and 2008 issues. He is Adjunct Professor of Law in the Walter and Dorothy Diamond Graduate Law Program in International Tax and Financial Services.  He is a member of the International Tax Planning Association and the Society of  Trust and Estate Practitioners, among many other professional associations.

Richard is the author and co-author of numerous books and monographs on international tax law and asset protection and is a featured speaker at many professional conferences. Further information about Richard Duke is available at www.assetlaw.com

About Vernon Jacobs

Vernon K. Jacobs
Vernon Jacobs is a CPA who limits his services to matters involving international tax law.  He is a  member of the International Tax Technical Resource Panel of the American Institute of CPAs and serves on a task force to provide guidance to CPA members to help them with the reporting requirements for various international information returns. 

Jacobs is the author and co-author of numerous books and monographs on international tax law and asset protection. He is the Author of the International Wealth Protection Monitor - a twice monthly email newsletter about asset protection, international taxation and the offshore industry.

Further information about the author is available at www.vernonjacobs.com
Caution:  While the information in this web site is believed to be from reliable sources and is believed to be accurate, it is not intended to represent legal, tax or financial advice for any reader of any part of this web site. Due to frequent changes in the laws, new court cases and differences of opinion among professional advisors, readers should not rely on this information without the help of a qualified professional advisor.


 Sponsored by Offshore Press, Inc . Copyright,  2009 All rights reserved. Offshore Press, Inc., Box 8137, Prairie Village, KS 66208. (913) 362-9667. Book images by Angela Farley.     Email to Offshore Press. ,
Vernon K. Jacobs, Web Author.