TreatiseTreatise

Langer on Practical International Tax Planning (4th Edition)

 by Denis A. Kleinfeld, Edward J. Smith, Marshall J Langer
 
 Copyright: 2000-2017
 Last Updated: October 2017

 Product Details >> 

Product Details

  • ISBN Number: 9780872241282
  • Page Count: 1735
  • Number of Volumes: 2
  •  

Langer on Practical International Tax Planning provides current knowledge and expert advice attorneys need to help clients capitalize on ripe tax havens and financial centers.

Stocked with case studies that illustrate sound planning approaches, this book enables you to:

  • select the right territories for each client,
  • deploy the right instruments within each territory to eliminate, reduce, or defer taxes,
  • avoid planning missteps that trigger tax problems,
  • use local contacts to open doors to tax havens, and
  • respond effectively to changing tax planning situations in specific havens and financial centers.
Regularly updated, Langer on Practical International Tax Planning gives you the latest word on the legal, tax, business, financial, social, political, technological, geographical, and regional factors to consider when developing and implementing customized planning strategies for clients. It is an invaluable tool for tax and estate planners, tax attorneys, accountants, and sophisticated investors.
  Preface to Fourth Edition
  Table of Contents
  Table of Abbreviations
Chapter 1: The Growth of Excessive Taxation
  • § 1:1 : Introduction1-2
  • § 1:2 : History of the U.S. Income Tax1-3
    • § 1:2.1 : The Sixteenth Amendment1-3
    • § 1:2.2 : U.S. Taxes Today1-4
    • § 1:2.3 : High Taxation in Other Countries1-5
    • § 1:2.4 : Tax Rates—Income Tax1-5
    • § 1:2.5 : Capital Gains1-7
    • § 1:2.6 : Dividends1-8
      • [A] : Qualified Foreign Corporations1-9
      • [B] : Securities Exchange Listing1-10
      • [C] : Treaty-Based Qualification1-11
      • [D] : Holding Period1-12
      • [E] : Reporting Requirements1-12
      • [F] : Interim Rules1-12
    • § 1:2.7 : Enforcement and Collection of Foreign Taxes in U.S. Courts1-13
    • § 1:2.8 : IRS Guidance—Letter Rulings and Determinations1-15
    • § 1:2.9 : Areas Where Rulings or Determination Letters Will Not Be Issued1-15
      • [A] : Specific Questions and Problems1-16
      • [B] : General Areas1-16
    • § 1:2.10 : Areas Where Rulings or Determination Letters Will Not Ordinarily Be Issued1-17
      • [A] : Specific Questions and Problems1-17
      • [B] : General Areas1-22
  • § 1:3 : Contrasting Views on Avoidance of Taxes1-23
    • § 1:3.1 : Tax Avoidance As a Right1-23
    • § 1:3.2 : Legitimate Tax Avoidance1-24
    • § 1:3.3 : Frivolous Return Positions—Penalties and Sanctions1-24
      • [A] : Substantial Authority Requirement1-26
      • [B] : Accuracy-Related Penalty/Section 6662(d)(1)1-27
    • § 1:3.4 : Particular Positions1-29
      • [A] : Trusts1-29
      • [B] : Leasing Personal Services to an Offshore Company1-29
    • § 1:3.5 : Return Preparers1-29
      • [A] : Obligations and Duties1-29
      • [B] : Penalties and Sanctions1-32
      • [C] : Signature Rules1-33
      • [D] : Disclosure of Return Information1-33
      • [E] : Personal Taxpayer Identification Numbers (PTINs)1-34
      • [F] : Individual Taxpayer Identification Numbers (ITINs)1-35
  • § 1:4 : Identifying “Harmful Tax Competition”1-38
    • § 1:4.1 : Exchange of Information1-41
      • [A] : Model Article 26—Exchange of Information Provisions1-42
  • § 1:5 : Reform in the “High-Tax Nations”1-42
  • § 1:6 : Future Outlook—A Prediction1-43
Chapter 2: Jurisdictional Bases for Taxation
  • § 2:1 : Introduction2-1
  • § 2:2 : Source of Income2-2
  • § 2:3 : Bases for Taxation2-2
    • § 2:3.1 : Territorial Basis2-2
    • § 2:3.2 : Residence Basis2-2
    • § 2:3.3 : Citizenship as a Basis2-3
  • § 2:4 : U.S. Taxes2-3
    • § 2:4.1 : United States Uses All Tax Bases2-3
    • § 2:4.2 : Citizens2-4
    • § 2:4.3 : Resident Aliens2-4
    • § 2:4.4 : Special Rule for Expatriates2-4
    • § 2:4.5 : Foreign Corporations2-5
    • § 2:4.6 : Domestic Corporations2-5
    • § 2:4.7 : Trusts and Estates2-5
    • § 2:4.8 : Check-the-Box Rules2-5
Chapter 3: Taxpayers Seek Relief
  • § 3:1 : Introduction3-1
  • § 3:2 : Why Tax Havens Exist3-2
    • § 3:2.1 : Escaping Excessive Taxation3-2
      • [A] : Every Place is a Tax Haven3-2
      • [B] : Globalization Fosters Search for Favorable Tax Environment3-3
    • § 3:2.2 : Benefits for the Tax Havens3-3
  • § 3:3 : Technology and the Rise of Financial Centers3-4
    • § 3:3.1 : Transformation of Tax Havens into Financial Centers3-4
    • § 3:3.2 : Loopholes, Shelters, and Havens3-5
Chapter 4: Different Types of Tax Havens
  • § 4:1 : Traditional Categories of Tax Havens4-1
    • § 4:1.1 : No-Tax Havens4-1
    • § 4:1.2 : Countries Taxing Only Local Income4-2
    • § 4:1.3 : Low-Tax Havens with Treaty Benefits4-2
    • § 4:1.4 : Countries Offering Special Privileges4-2
  • § 4:2 : Confidentiality and Secrecy4-3
    • § 4:2.1 : Government Intrusion4-3
    • § 4:2.2 : Privacy Laws4-3
    • § 4:2.3 : MLATs4-3
  • § 4:3 : Government Countermeasures to Tax Havens4-4
    • § 4:3.1 : Protective Legislation4-4
    • § 4:3.2 : Blacklists4-5
    • § 4:3.3 : Government Reports4-6
    • § 4:3.4 : Future Outlook4-7
Chapter 5: Tax Incentives and Tax Holidays
  • § 5:1 : Incentive Laws5-1
  • § 5:2 : Controlled Foreign Corporations5-2
  • § 5:3 : Choosing a Tax Haven5-3
    • § 5:3.1 : Vector Theory5-3
    • § 5:3.2 : Factors in Selecting a Haven5-4
      • [A] : Stability and Integrity5-4
      • [B] : Country’s Attitude Toward Offshore Business5-5
      • [C] : Other Taxes and Fees5-5
      • [D] : Prospects for Continued Freedom from Taxation5-5
      • [E] : Tax Treaties5-5
      • [F] : Exchange Controls5-5
      • [G] : Ability to Conduct Substantial Business Activities5-6
      • [H] : Modern Laws5-6
      • [I] : Incorporation Costs5-6
      • [J] : Communication Facilities5-6
      • [K] : Banking and Professional Facilities5-7
      • [L] : Respect for the Rule of Law5-7
      • [M] : Flexibility to Move5-7
Chapter 6: A World Full of Tax Havens and Financial Centers
  • § 6:1 : Introduction6-2
  • § 6:2 : Havens of the Past6-4
  • § 6:3 : Atlantic and Caribbean Havens6-5
    • § 6:3.1 : Aruba6-5
    • § 6:3.2 : Anguilla6-5
    • § 6:3.3 : Antigua and Barbuda6-5
    • § 6:3.4 : Bahamas6-5
    • § 6:3.5 : Barbados6-6
    • § 6:3.6 : Bermuda6-6
    • § 6:3.7 : British Virgin Islands6-6
    • § 6:3.8 : Cayman Islands6-6
    • § 6:3.9 : St. Kitts and Nevis6-7
    • § 6:3.10 : St. Lucia6-7
    • § 6:3.11 : St. Vincent6-7
    • § 6:3.12 : Turks and Caicos6-7
    • § 6:3.13 : U.S. Jurisdictions6-7
  • § 6:4 : Latin American Havens6-8
    • § 6:4.1 : Belize6-8
    • § 6:4.2 : Costa Rica6-8
    • § 6:4.3 : Uruguay6-9
    • § 6:4.4 : Panama6-9
  • § 6:5 : Pacific Basin Havens6-9
    • § 6:5.1 : Hong Kong6-9
    • § 6:5.2 : Macau6-10
    • § 6:5.3 : Singapore6-10
    • § 6:5.4 : Nauru6-10
    • § 6:5.5 : Cook Islands6-10
    • § 6:5.6 : Labuan6-11
    • § 6:5.7 : Niue6-11
    • § 6:5.8 : Mauritius6-11
    • § 6:5.9 : Samoa6-12
    • § 6:5.10 : Miscellaneous Havens6-12
      • [A] : Maldives6-12
      • [B] : Brunei6-12
      • [C] : Norfolk Island6-12
      • [D] : Christmas Island and the Cocos6-12
      • [E] : Palau6-12
      • [F] : Pitcairn Island6-13
      • [G] : Tonga6-13
      • [H] : Tokelau6-13
  • § 6:6 : Havens Around Africa6-13
    • § 6:6.1 : Djibouti6-13
    • § 6:6.2 : Liberia6-13
    • § 6:6.3 : Seychelles6-13
  • § 6:7 : European Havens6-14
    • § 6:7.1 : Guernsey6-14
    • § 6:7.2 : Jersey6-14
    • § 6:7.3 : Isle of Man6-14
    • § 6:7.4 : Alderney6-15
    • § 6:7.5 : Ireland6-15
    • § 6:7.6 : Netherlands6-15
    • § 6:7.7 : Luxembourg6-15
    • § 6:7.8 : Switzerland6-16
    • § 6:7.9 : Liechtenstein6-16
    • § 6:7.10 : Cyprus6-17
    • § 6:7.11 : Monaco6-17
    • § 6:7.12 : Malta6-18
    • § 6:7.13 : Gibraltar6-18
    • § 6:7.14 : Madeira6-19
    • § 6:7.15 : Azores6-19
  • § 6:8 : Conclusion6-19
Chapter 11: Determining the Source of Income
  • § 11:1 : Introduction11-2
  • § 11:2 : Employee Compensation—Generally11-3
    • § 11:2.1 : Employee Fringe Benefits11-3
      • [A] : Pension and Retirement Plans11-4
        • [A][1] : Calculating Taxable Portion of Pension Distributions11-5
      • [B] : Resident Aliens11-6
      • [C] : Athletes and Artists—Events11-6
      • [D] : Filing Requirements11-6
    • § 11:2.2 : Life Insurance Annuities and Endowment Contracts (Puerto Rico)11-8
    • § 11:2.3 : Social Security Payments11-8
    • § 11:2.4 : Flight Crews11-9
  • § 11:3 : Royalties11-9
  • § 11:4 : U.S. Possessions Activity—Inventory11-10
    • § 11:4.1 : Possession Production Sales11-10
    • § 11:4.2 : Possession Purchase Sales11-10
    • § 11:4.3 : Source of Gross Income11-11
    • § 11:4.4 : Source of Taxable Income11-13
    • § 11:4.5 : Section 936 Corporations11-13
    • § 11:4.6 : Election and Reporting Rules11-14
    • § 11:4.7 : Residence11-14
      • [A] : 2006 Regulations11-15
      • [B] : Change in Residence11-16
    • § 11:4.8 : U.S.-Source Dividends Paid to Puerto Rico Corporation11-17
    • § 11:4.9 : Large Cash Transactions—U.S. “Possessions and Territories”11-17
  • § 11:5 : Natural Resources11-18
  • § 11:6 : Inventory Other Than Natural Resources11-19
  • § 11:7 : Net Operating Losses (NOLs)11-19
    • § 11:7.1 : Personal Property Other Than Stock11-19
    • § 11:7.2 : Stock11-20
  • § 11:8 : Transportation Income11-20
  • § 11:9 : Treaty Benefits11-20
  • § 11:10 : Scholarships and Fellowships11-22
  • § 11:11 : Research and Experimental Expenses11-22
  • § 11:12 : Communications Income11-23
  • § 11:13 : Ocean and Space Activities11-24
    • § 11:13.1 : 2006 Regulations11-25
  • § 11:14 : Frivolous Return Positions11-26
  • § 11:15 : Interest Paid by Foreign Entities11-28
  • § 11:16 : Inconsistent Tax Treatment—Appeal to Competent Authority11-28
  • § 11:17 : Bank Transaction Fees11-28
Chapter 12: Determining the Situs of Assets (Intangibles)
  • § 12:1 : Location Generally12-1
  • § 12:2 : Estate Tax12-2
    • § 12:2.1 : Property Treated As U.S. Situs12-2
      • [A] : Community Property12-2
      • [B] : Investments in Stock12-3
      • [B][1] : RIC Stock12-5
    • § 12:2.2 : Inter Vivos Transfers12-6
    • § 12:2.3 : Property Not Sited in the United States12-6
    • § 12:2.4 : Treaty Provisions12-7
    • § 12:2.5 : Credit for Foreign Death Taxes12-7
    • § 12:2.6 : Death While in Transit Through the United States12-7
  • § 12:3 : Sourcing Income from Property12-7
  • § 12:4 : Tax-Free (Section 1031) Nonrecognition Transactions12-8
Chapter 13: Foreign Tax Credits
  • § 13:1 : Introduction13-2
    • § 13:1.1 : Calculating the FTC13-3
      • [A] : Income Baskets13-3
        • [A][1] : Carryforwards and Carrybacks13-4
      • [B] : Accumulated E&P Pools13-4
      • [C] : Alternative Minimum Tax13-5
      • [D] : Domestic Loss Calculation13-5
      • [E] : Excess Credit Carryovers13-5
      • [F] : Foreign Loss Recapture13-6
      • [G] : Excess Credit Carryovers13-6
      • [H] : Redetermination of FTC13-6
        • [H][1] : Currency Exchange Translations13-7
        • [H][2] : Adjustments to Foreign Tax and E&P Pools13-8
        • [H][3] : Notification to IRS13-8
    • § 13:1.2 : Particular Types of Income or Expense13-8
      • [A] : Charitable Contributions13-8
      • [B] : Capital Gains13-9
      • [C] : Passive Income13-9
      • [D] : Royalties13-9
      • [E] : Interest Expense13-10
        • [E][1] : Changing Interest Accounting Methods13-11
        • [E][2] : Alternative Tax Book Value Method13-12
        • [E][3] : Allocation to U.S. Business13-13
      • [F] : Dividends13-13
      • [G] : Shipping Income13-14
      • [H] : Foreign Loss Recapture/Section 904(f)(3)13-14
  • § 13:2 : Eligibility13-15
    • § 13:2.1 : Reduction for Pecuniary Subsidies13-16
    • § 13:2.2 : Legal Liability Rule13-17
    • § 13:2.3 : “Compulsory” Rule—Obligation to Reduce Tax13-17
  • § 13:3 : Creditable Tax13-18
    • § 13:3.1 : Exchange Rates13-20
    • § 13:3.2 : Withheld Taxes13-20
    • § 13:3.3 : Related Payments13-20
      • [A] : Holding Period13-21
        • [A][1] : Back-to-Back Licensing13-21
        • [A][2] : Levy on Nondomiciliaries13-23
    • § 13:3.4 : Abusive Practices—FTC Generator13-23
    • § 13:3.5 : Windfall Profits Taxes13-24
    • § 13:3.6 : Splitter Events (Splitting FTC from Related Income)13-25
    • § 13:3.7 : Refund Claims—Time Limits13-27
    • § 13:3.8 : Fines13-28
  • § 13:4 : Disqualified Countries13-28
  • § 13:5 : International Boycotts13-30
  • § 13:6 : American Depositary Receipts (ADRs)13-30
  • § 13:7 : Partnerships13-31
    • § 13:7.1 : Allocating Foreign Tax Credits13-32
    • § 13:7.2 : Deemed Paid Credit13-33
  • § 13:8 : Regulated Investment Companies (RICs)13-33
  • § 13:9 : Tax Shelter Registration and Reporting— Listed Transactions13-35
    • § 13:9.1 : Brief Holding Period Tax Credit Transactions13-35
    • § 13:9.2 : Transfer of High Basis Distressed Assets13-35
    • § 13:9.3 : IRS Identified Tax Shelters13-35
      • [A] : Subpart F/Partnership Blocker13-35
      • [B] : Structured Trust Advantaged Repackaged Securities (STARS) Transaction13-36
Chapter 14: Foreign Currency Transactions
  • § 14:1 : Foreign Currency Risks14-1
  • § 14:2 : Important Terms14-2
    • § 14:2.1 : Qualified Business Unit14-2
    • § 14:2.2 : Functional Currency14-3
      • [A] : Determining the Functional Currency14-3
  • § 14:3 : Calculating Gains and Losses14-5
    • § 14:3.1 : Appropriate Exchange Rate14-5
    • § 14:3.2 : Source14-5
      • [A] : Exceptions to the General Source Rules14-5
    • § 14:3.3 : Branch Operations14-6
      • [A] : Section 987 QBU—Proposed Regulations14-6
    • § 14:3.4 : Section 988 Transactions (Nonfunctional Currency)14-7
      • [A] : Contingent Payment Debt Denominated in Foreign Currency14-9
      • [B] : Exchange-Traded Notes14-9
    • § 14:3.5 : Foreign Subsidiary Operations14-10
    • § 14:3.6 : Mark-to-Market14-11
  • § 14:4 : Hedging Transactions14-11
  • § 14:5 : Currency Considerations14-12
    • § 14:5.1 : Using Foreign Currencies to Pay U.S. Taxes14-12
    • § 14:5.2 : Hyperinflationary Currencies14-12
      • [A] : Inbound Transfer of QBU14-13
    • § 14:5.3 : The Euro14-15
  • § 14:6 : Integrated Transactions14-17
    • § 14:6.1 : Hedging Transactions14-17
    • § 14:6.2 : Legging Out14-17
  • § 14:7 : Non-Bank Payment Services—MoneyGram14-18
Chapter 15: Transfer Pricing and Advance Pricing Agreements; and Appendix 15A
  • § 15:1 : Introduction15-1
    • § 15:1.1 : Valuation Methods15-6
    • § 15:1.2 : Customs Value Versus Import Valuation—First Sale Rule15-6
  • § 15:2 : Applying for an APA15-7
    • § 15:2.1 : General Principles15-7
    • § 15:2.2 : Prefiling Conferences15-8
    • § 15:2.3 : Contents of Request15-9
    • § 15:2.4 : Perjury Statement15-10
    • § 15:2.5 : User Fees15-10
    • § 15:2.6 : Small Business Taxpayers15-10
    • § 15:2.7 : Legal Effect15-10
  • § 15:3 : Confidentiality15-11
  • § 15:4 : Small Business Program15-11
  • § 15:5 : Global Dealing Operations15-13
  • § 15:6 : Insurance Arrangements15-14
    • § 15:6.1 : Reinsurance Arrangements15-14
    • § 15:6.2 : Captive Insurance Companies15-14
  • § 15:7 : Services Provided Between Controlled Group Members15-15
    • § 15:7.1 : 2006 Proposed and 2009 Final Regulations15-16
    • § 15:7.2 : Setoffs15-19
  • Appendix 15A : Model Advance Pricing AgreementApp. 15A-1
Chapter 16: Working with Tax Treaties; and Appendices 16A-16B
  • § 16:1 : A Brief History16-2
  • § 16:2 : Model Tax Treaties16-2
    • § 16:2.1 : U.S. Model Treaty16-2
    • § 16:2.2 : OECD Model Treaty16-3
    • § 16:2.3 : United Nations Model Treaty16-3
    • § 16:2.4 : Other Model Treaties16-3
  • § 16:3 : Treaty Interpretation16-4
    • § 16:3.1 : Pre-Ratification Paperwork16-4
    • § 16:3.2 : Treasury Determinations16-4
    • § 16:3.3 : Relationship of Treaties to I.R.C.16-5
  • § 16:4 : Understanding Special Terms Used in Treaties16-5
    • § 16:4.1 : Persons Covered16-6
      • [A] : Resident16-6
      • [B] : Dual Resident16-6
    • § 16:4.2 : Savings Clause16-7
    • § 16:4.3 : Expatriates16-7
    • § 16:4.4 : Permanent Establishment16-8
    • § 16:4.5 : Limitation of Benefits16-8
    • § 16:4.6 : Nondiscrimination Provisions16-9
    • § 16:4.7 : Mutual Assistance and Exchange of Information16-10
    • § 16:4.8 : Assistance in Collection of Taxes16-10
  • § 16:5 : United States Tax Treaties16-11
    • § 16:5.1 : Transfer Tax Treaties16-11
      • [A] : Determining Transfer Tax Benefits16-11
      • [B] : Double Taxation16-12
      • [C] : Other Provisions16-12
    • § 16:5.2 : Agreements Involving U.S. Possessions16-13
    • § 16:5.3 : Tax Information Exchange Agreements16-13
    • § 16:5.4 : Mutual Legal Assistance Treaties16-13
    • § 16:5.5 : Transportation Agreements16-13
  • § 16:6 : Treaty Shopping16-14
  • Appendix 16A : United States Model Income Tax Convention of February 17, 2016App. 16A-1
  • Appendix 16B : OECD Model Tax Convention on Income and on Capital (last amended June 30, 1998)App. 16B-1
Chapter 17: Treaty-Based Return Positions
  • § 17:1 : Disclosure Generally17-2
  • § 17:2 : Treaty-Based Return Position17-2
  • § 17:3 : Residency17-3
    • § 17:3.1 : Claiming Treaty Benefits17-3
      • [A] : Nondiscrimination Provision— Article 24(5)of the OECD Model17-4
      • [B] : Imputed Interest/Double Taxation17-5
      • [C] : Insurance—Excise Tax/Section 437117-5
      • [D] : Lottery Payments17-6
      • [E] : Multiple Residency17-6
      • [F] : Pensions17-7
      • [G] : Qualification for Treaty Benefits17-9
      • [H] : Competent Authority Assistance—Basis17-9
      • [I] : Request for Competent Authority Assistance—Procedures17-10
        • [I][1] : Sample Agreement Between Authorities—“Fellowship Payments”17-11
      • [J] : Withholding Rules17-12
      • [K] : Agreement with Belgium17-12
    • § 17:3.2 : Hybrid Entities17-13
    • § 17:3.3 : Fiscally Transparent Entities17-15
    • § 17:3.4 : U.S. Model Treaty Provisions17-15
      • [A] : Arbitration Provisions17-17
      • [B] : Exempt Organizations17-19
    • § 17:3.5 : Treaty Shopping17-20
      • [A] : Limitations on Benefits Provisions17-20
  • § 17:4 : Reporting Waived17-21
  • § 17:5 : What Must Be Reported17-21
  • § 17:6 : Penalties17-21
  • § 17:7 : Foreign Partners’ Income Attributable to U.S. Office17-22
  • § 17:8 : Embassy and Government Employees17-22
    • § 17:8.1 : Miscellaneous Foreign Government Office17-23
  • § 17:9 : Foreign Government Returns on U.S. Investments17-24
    • § 17:9.1 : Taxation of Commercial Activity Income17-24
Chapter 18: Limitations on Treaty Shopping
  • § 18:1 : Introduction18-1
  • § 18:2 : How Treaty Shopping Works18-2
  • § 18:3 : Regulating Treaty Shopping18-3
    • § 18:3.1 : Treaty Shopping Cases18-3
      • [A] : Johansson v. United States18-3
      • [B] : Aiken v. Commissioner18-4
      • [C] : Perry Bass v. Commissioner18-4
      • [D] : Suez Canal Co. Case18-4
    • § 18:3.2 : Published Rulings18-4
    • § 18:3.3 : 1984 IRS Rulings18-5
    • § 18:3.4 : Private Letter Rulings18-6
    • § 18:3.5 : 1976 Treasury Report18-8
    • § 18:3.6 : U.S. Treaty Provisions18-8
      • [A] : Limitations on Benefits Provisions18-9
      • [B] : Regulations Limiting Treaty Benefits18-10
    • § 18:3.7 : Tax Reform Act of 198618-11
    • § 18:3.8 : 1993 Recharacterization Provisions18-11
  • § 18:4 : Permissible Treaty Shopping18-12
Chapter 19: Legalizing Foreign Documents for Use in the United States
  • § 19:1 : Introduction19-1
  • § 19:2 : Pre-Convention Legalizations19-1
  • § 19:3 : How the Apostille Works19-2
  • § 19:4 : Countries Covered by the Convention19-4
  • § 19:5 : Countries Not Covered by the Convention19-5
Chapter 25: How U.S. Citizenship Is Acquired
  • § 25:1 : Introduction25-1
  • § 25:2 : Citizenship for Tax Purposes25-1
  • § 25:3 : Acquiring Citizenship by Birth (or Adoption)25-2
    • § 25:3.1 : Children Born Abroad25-2
    • § 25:3.2 : Naturalization25-3
    • § 25:3.3 : Adoption of Foreign Children25-3
    • § 25:3.4 : Immigration—In-Bound Emigrants25-5
  • § 25:4 : Loss of Citizenship25-6
    • § 25:4.1 : Dual Nationality25-8
  • § 25:5 : Conclusion25-8
Chapter 26: Tax-Motivated Loss of Citizenship
  • § 26:1 : Moving Abroad to Avoid Taxes26-1
  • § 26:2 : Nonresident Citizens26-2
  • § 26:3 : Expatriation26-2
    • § 26:3.1 : Relinquishing U.S. Citizenship26-2
      • [A] : Green Card Holders and Permanent Residents26-3
    • § 26:3.2 : Anti-Expatriation Rules26-4
      • [A] : Exit Taxes—2008 Mark-to-Market Rules26-4
      • [B] : 2004 Jobs Creation Act Rules26-6
        • [B][1] : Estate Tax26-7
        • [B][2] : Gift Tax26-8
        • [B][3] : Pre-2004 Act Rules26-8
      • [C] : Kronenberg Case26-10
      • [D] : Furstenberg Case26-10
      • [E] : Health Insurance26-11
    • § 26:3.3 : Rules Have Loopholes26-12
    • § 26:3.4 : Some Treaties May Override Code26-13
      • [A] : Crow Case26-14
  • § 26:4 : Yielding Citizenship26-14
    • § 26:4.1 : Obtaining Passports26-15
Chapter 27: Visas Permitting U.S. Residence
  • § 27:1 : Adopted Children27-1
  • § 27:2 : Teacher Exchange Program Visas27-2
    • § 27:2.1 : China27-3
    • § 27:2.2 : Philippines27-3
  • § 27:3 : Diplomatic Personnel27-4
    • § 27:3.1 : Diplomatic Exemption27-4
    • § 27:3.2 : Visa Classifications27-5
    • § 27:3.3 : Vienna Conventions27-5
    • § 27:3.4 : Notification to and Accreditation/Registration by the State Department27-6
    • § 27:3.5 : Treaty Benefits27-7
  • § 27:4 : Deportation27-8
Chapter 28: Residence Status for Tax Purposes
  • § 28:1 : Determining Residence Status for Income Tax Purposes28-2
  • § 28:2 : What Constitutes Residence28-4
    • § 28:2.1 : Statutory Definitions28-4
  • § 28:3 : Significance of Residence28-4
    • § 28:3.1 : Taxation of Resident Aliens28-5
    • § 28:3.2 : Taxation of Nonresident Aliens28-5
      • [A] : Earned Income Credit28-6
      • [B] : Deferred Compensation28-7
        • [B][1] : Foreign Work and Payments28-8
        • [B][2] : Recurring Part-Year Compensation (Teachers)28-8
        • [B][3] : Letter Rulings28-8
      • [C] : Effectively Connected Income28-8
        • [C][1] : Outer Continental Shelf28-9
      • [D] : Professional Athletes—Golf28-10
      • [E] : Gambling28-11
  • § 28:4 : Paying Less Income Tax28-12
  • § 28:5 : Well-Off Retiree28-12
  • § 28:6 : Statutory Definition28-13
    • § 28:6.1 : Objective Standards28-14
  • § 28:7 : Two Basic Tests28-14
    • § 28:7.1 : Green Card Test28-15
    • § 28:7.2 : Lawful Permanent Resident Defined28-15
  • § 28:8 : Substantial Presence Test28-16
    • § 28:8.1 : Excluded Days28-16
    • § 28:8.2 : Counting Days28-17
    • § 28:8.3 : Substantial Presence Presumes Residence28-18
  • § 28:9 : Dual-Status Years28-19
    • § 28:9.1 : Moving Expenses28-19
  • § 28:10 : Tax Home and Closer Connection Exception28-19
    • § 28:10.1 : Tax Home28-20
    • § 28:10.2 : Closer Connection28-20
  • § 28:11 : Annual Statements28-21
  • § 28:12 : Anti-Avoidance Rule28-21
  • § 28:13 : Enforcement28-22
  • § 28:14 : Impact of Tax Treaties28-22
    • § 28:14.1 : Treaty-Based Position, Notifying the IRS28-22
    • § 28:14.2 : Dual Residency28-23
  • § 28:15 : Special Rules Depending on Occupational Status28-23
  • § 28:16 : Planning Considerations28-25
Chapter 29: Domicile and Its Impact on Taxes
  • § 29:1 : Domicile Defined29-1
  • § 29:2 : Domicile and Residency Compared29-2
  • § 29:3 : General Tax Impact29-2
  • § 29:4 : Estate and Gift Taxes for Residents29-3
    • § 29:4.1 : Defining Resident29-3
    • § 29:4.2 : Establishing a Domicile29-3
  • § 29:5 : Citizens and Residents of U.S. Possessions29-3
  • § 29:6 : Aliens29-4
    • § 29:6.1 : Employees of Certain International Institutions29-4
  • § 29:7 : Elkins v. Moreno29-4
  • § 29:8 : Planning for Nondomiciled Resident Aliens29-5
    • § 29:8.1 : Domicile Test Advantageous29-6
    • § 29:8.2 : Canada As an Alternative29-6
Chapter 30: Estate Planning for Nondomiciled Aliens
  • § 30:1 : General Estate Tax Rules30-1
    • § 30:1.1 : Non-Immigrants/Illegals30-2
    • § 30:1.2 : Tax Act of 2001 (EGTRRA)30-3
      • [A] : Portability30-4
    • § 30:1.3 : U.S. Possessions Residents30-4
  • § 30:2 : Deductions30-5
    • § 30:2.1 : Mortgaged Property30-5
  • § 30:3 : Charitable Bequests30-6
    • § 30:3.1 : Terrorist-Identified Organizations30-7
  • § 30:4 : Marital Deduction30-7
    • § 30:4.1 : Proportional Deduction Rule30-8
    • § 30:4.2 : EGTRRA 200130-8
    • § 30:4.3 : Income Payment Rules30-9
  • § 30:5 : Credits30-10
  • § 30:6 : Gifts30-11
  • § 30:7 : Expatriation30-12
Chapter 31: Mixed Marriages Between Citizens and Aliens; and Appendices 31A-31B
  • § 31:1 : Introduction31-2
  • § 31:2 : Attribution Rules31-2
    • § 31:2.1 : Family Attribution Rules31-2
    • § 31:2.2 : Attribution Between Spouses31-3
      • [A] : Attribution Scenario31-3
  • § 31:3 : Tax Planning Considerations31-3
    • § 31:3.1 : Joint Filing31-3
    • § 31:3.2 : Citizenship31-4
    • § 31:3.3 : Divorce—Marital Property Settlements31-4
      • [A] : Alimony and Support Payments31-4
      • [B] : Child’s Dependency Exemption31-5
      • [C] : Expense of Enforcing Property Settlement Provisions31-6
      • [D] : Interest on Installment Payments31-6
      • [E] : Individual Retirement Accounts31-7
      • [F] : Pensions and Retirement Plans31-7
      • [G] : Stock Options and Deferred Compensation Rights31-7
        • [G][1] : Employment Taxes31-7
        • [G][2] : Reporting31-8
      • [H] : Third-Party Stock Redemptions31-8
      • [I] : Net Investment Income31-9
  • § 31:4 : Marital Deductions31-11
    • § 31:4.1 : Community Property Income31-11
    • § 31:4.2 : Gifts and Bequests31-11
    • § 31:4.3 : Annual Gift Exclusion31-12
    • § 31:4.4 : Qualified Domestic Trust (QDOT)31-12
      • [A] : QDOT Defined31-13
      • [B] : Tax Treatment of QDOT31-13
      • [C] : QDOT Regulations31-13
    • § 31:4.5 : Relief from Community Income Treatment31-15
      • [A] : Equitable Relief31-15
      • [B] : Fraudulent Transfers31-16
      • [C] : Election31-16
      • [D] : Notice to Other Spouse31-16
      • [E] : Tax Court Review31-16
  • Appendix 31A : Officially Prescribed Forms Relating to QDOTs: BondApp. 31A-1
  • Appendix 31B : Officially Prescribed Forms Relating to QDOTs: Letter of CreditApp. 31B-1
Chapter 32: Tax Benefits for Citizens Working Abroad
  • § 32:1 : Introduction32-2
  • § 32:2 : Earned Income Exclusion32-2
    • § 32:2.1 : Employer’s Role in Overseas Employee’s Taxes32-7
    • § 32:2.2 : U.S. Possessions Income— “Specified Possessions”32-7
      • [A] : Guam32-8
      • [B] : Samoa32-9
      • [C] : Johnston Island32-10
      • [D] : Marianas32-10
    • § 32:2.3 : Antarctica32-10
  • § 32:3 : Excess Housing Costs32-11
  • § 32:4 : Foreign Presence32-13
    • § 32:4.1 : Qualifying for Benefits32-13
      • [A] : Foreign Earned Income Subsequently Paid to U.S. Resident32-14
      • [B] : Bona Fide Residence Test32-16
      • [C] : Physical Presence Test32-17
      • [D] : Tax Home32-17
      • [E] : Frivolous Return Positions32-20
    • § 32:4.2 : Absence Due to Adverse Conditions32-21
    • § 32:4.3 : Travel-Restricted Countries32-24
      • [B] : Exceptions—Iraq32-25
      • [C] : Guantanamo Bay Naval Base32-25
  • § 32:5 : Tracking Down Americans Abroad32-25
  • § 32:6 : Overseas Conventions and Seminars32-26
    • § 32:6.1 : Business Expense Deductions32-26
    • § 32:6.2 : Countries in North America32-27
  • § 32:7 : Military and Foreign Service Personnel32-28
    • § 32:7.1 : Principal Residence Sales32-28
    • § 32:7.2 : Combat Zone—Suspension of Filing Obligations32-28
      • [A] : Bankruptcy Discharge32-29
    • § 32:7.3 : Income Exclusion32-29
    • § 32:7.4 : Terror Victims32-30
    • § 32:7.5 : Absence As Tolling Limitations Period on Collection of Tax32-31
  • § 32:8 : Deferred Compensation32-32
  • § 32:9 : Employment Taxes32-32
Chapter 34: Investments Abroad
  • § 34:1 : Offshore Credit Card Accounts34-1
  • § 34:2 : Foreign Bank Accounts34-3
    • § 34:2.1 : Exceptions from Interest and Penalty Relief34-5
    • § 34:2.2 : Whistleblower Rules34-6
      • [A] : Criminal Prosecution34-7
  • § 34:3 : Leases34-8
    • § 34:3.1 : Lease-In/Lease-Out (LILO) Arrangements34-9
    • § 34:3.2 : Sale-In/Lease-Out (SILO) Arrangements34-9
    • § 34:3.3 : Partnerships “Treated As a Lease”34-11
  • § 34:4 : Mutual Funds34-12
    • § 34:4.1 : Real Property Interests34-13
  • § 34:5 : Seizure of Assets34-13
  • § 34:6 : Deferred Compensation—Offshore Trusts34-14
  • § 34:7 : Retirement Agreements34-16
    • § 34:7.1 : Pensions34-16
    • § 34:7.2 : Annuities34-16
    • § 34:7.3 : Nonqualified Plans—Section 457A34-17
    • § 34:7.4 : Nonqualified Plans—Stock Rights34-18
  • § 34:8 : Mexican Land Trust34-19
Chapter 40: Tax Havens Used for Offshore Companies
  • § 40:1 : Introduction40-2
  • § 40:2 : European Havens40-2
    • § 40:2.1 : Channel Islands40-2
    • § 40:2.2 : Isle of Man40-3
    • § 40:2.3 : Gibraltar40-3
    • § 40:2.4 : Ireland40-3
    • § 40:2.5 : Netherlands40-4
    • § 40:2.6 : Luxembourg40-4
    • § 40:2.7 : Switzerland40-4
    • § 40:2.8 : Liechtenstein40-5
    • § 40:2.9 : Cyprus40-5
    • § 40:2.10 : Malta40-5
    • § 40:2.11 : Monaco40-5
    • § 40:2.12 : Madeira40-5
    • § 40:2.13 : Belgium40-6
    • § 40:2.14 : Austria40-6
  • § 40:3 : Havens in the Americas40-6
    • § 40:3.1 : British Virgin Islands40-6
    • § 40:3.2 : Bahamas40-6
    • § 40:3.3 : Cayman Islands40-7
    • § 40:3.4 : Bermuda40-7
    • § 40:3.5 : Turks and Caicos40-8
    • § 40:3.6 : Barbados40-8
    • § 40:3.7 : Netherlands Antilles; Aruba40-8
    • § 40:3.8 : Panama40-8
    • § 40:3.9 : Costa Rica40-9
    • § 40:3.10 : Belize40-9
    • § 40:3.11 : Antigua40-9
    • § 40:3.12 : Anguilla40-9
    • § 40:3.13 : St. Kitts and Nevis40-9
    • § 40:3.14 : St. Vincent40-10
    • § 40:3.15 : Uruguay40-10
  • § 40:4 : Havens in the Pacific Basin40-10
    • § 40:4.1 : Hong Kong40-10
    • § 40:4.2 : Singapore40-10
    • § 40:4.3 : Nauru40-11
    • § 40:4.4 : Vanuatu40-11
    • § 40:4.5 : Cook Islands40-11
    • § 40:4.6 : Marshall Islands40-11
    • § 40:4.7 : Western Samoa40-12
    • § 40:4.8 : Labuan40-12
  • § 40:5 : Havens Elsewhere40-12
    • § 40:5.1 : Liberia40-12
    • § 40:5.2 : Mauritius40-12
    • § 40:5.3 : Seychelles40-13
Chapter 41: Characterization of Entities for Tax Purposes
  • § 41:1 : Introduction41-1
  • § 41:2 : “Check the Box” Rules41-2
    • § 41:2.1 : Late Election41-2
    • § 41:2.2 : Default Classification41-2
      • [A] : Relevant for U.S. Tax Purposes41-3
    • § 41:2.3 : “Per Se” Corporations41-3
    • § 41:2.4 : Disregarded Entities41-5
    • § 41:2.5 : Dually Chartered Entities41-6
      • [A] : Corporate Status41-6
      • [B] : Foreign/Domestic Status41-7
  • § 41:3 : Single- and Two-Member Entities41-7
    • § 41:3.1 : Becoming a Two-Member Entity41-7
    • § 41:3.2 : Becoming a Single-Member Entity41-8
  • § 41:4 : Fiscally Transparent Entities and Treaty Benefits41-8
  • § 41:5 : Hybrid Branches and Subpart F41-10
  • § 41:6 : Commonly Used Foreign Entities41-11
    • § 41:6.1 : United States–Type Corporation Laws41-11
    • § 41:6.2 : Civil Law Public Corporations41-12
    • § 41:6.3 : Civil Law Private Companies41-12
      • [A] : Wholly Owned GmbH or Sarl41-12
    • § 41:6.4 : Special Liechtenstein Entities41-12
  • § 41:7 : Elective Conversions41-13
  • § 41:8 : Abusive Transactions41-13
  • § 41:9 : “Forced” Foreign Incorporation41-14
Chapter 43: Using Limited Liability Companies
  • § 43:1 : Introduction43-1
  • § 43:2 : Classifying an LLC43-1
    • § 43:2.1 : Criteria43-2
  • § 43:3 : Forming an LLC43-3
    • § 43:3.1 : Start-Up Phase43-3
    • § 43:3.2 : Operating Agreement43-3
    • § 43:3.3 : Important Considerations43-4
      • [A] : Asset Protection43-4
      • [B] : Foreign LLCs43-4
      • [C] : Estate Planning43-5
      • [D] : Preserving Liquidation Value43-5
Chapter 44: Redomiciliation of Offshore Companies
  • § 44:1 : Introduction44-2
  • § 44:2 : Transfer Statutes44-2
    • § 44:2.1 : Canadian Transfer Statutes44-2
      • [A] : New Brunswick44-2
      • [B] : Ontario44-3
      • [C] : Alberta44-3
    • § 44:2.2 : Liechtenstein44-3
    • § 44:2.3 : Nauru44-3
    • § 44:2.4 : Netherlands Antilles44-4
    • § 44:2.5 : Vanuatu44-4
    • § 44:2.6 : Turks and Caicos44-4
    • § 44:2.7 : Panama44-5
    • § 44:2.8 : Switzerland44-5
    • § 44:2.9 : Antigua and Barbuda44-5
    • § 44:2.10 : British Virgin Islands44-5
    • § 44:2.11 : Nevis44-6
    • § 44:2.12 : Barbados44-6
    • § 44:2.13 : Samoa44-6
    • § 44:2.14 : U.S. States44-6
      • [A] : Wyoming44-6
      • [B] : Delaware44-7
      • [C] : Florida44-7
  • § 44:3 : Tax Consequences and Other Considerations44-7
    • § 44:3.1 : Private Letter Rulings44-7
    • § 44:3.2 : Revenue Ruling 88-2544-8
Chapter 51: Offshore Trusts as Will Substitutes
  • § 51:1 : Introduction51-1
  • § 51:2 : Law Governing Foreign Trusts51-2
    • § 51:2.1 : Common Law Jurisdiction51-2
    • § 51:2.2 : Common Law Trusts51-2
  • § 51:3 : Special Characteristics of Foreign Trusts51-3
  • § 51:4 : Nontax Advantages51-3
    • § 51:4.1 : Trust as Will Substitute51-4
    • § 51:4.2 : Duration of Trust51-4
    • § 51:4.3 : Distribution of Trust Income51-4
    • § 51:4.4 : Memorandum of Wishes51-5
    • § 51:4.5 : Relocating the Trust51-5
    • § 51:4.6 : Combining Trust and Holding Company51-5
    • § 51:4.7 : Anonymity51-5
    • § 51:4.8 : Other Advantages51-6
  • § 51:5 : Possible Disadvantages51-6
    • § 51:5.1 : Legal Fees51-6
  • § 51:6 : Foreign Trusts in Civil Law Jurisdictions51-6
    • § 51:6.1 : Recognition of Common Law Trusts51-7
    • § 51:6.2 : Tax Complications51-7
    • § 51:6.3 : Forced-Heirship Rules51-8
    • § 51:6.4 : Cayman Trusts Interpretation Law51-8
    • § 51:6.5 : Trust Protectors51-9
Chapter 52: Who Can Use Offshore Trusts
  • § 52:1 : Introduction52-2
  • § 52:2 : Foreign Trusts No Longer Practical for Americans52-2
    • § 52:2.1 : Benefits Under Prior Law52-2
    • § 52:2.2 : Changes Under 1976 Tax Reform Act52-2
    • § 52:2.3 : Employee Benefit Trusts52-3
  • § 52:3 : Foreign Trusts Today52-4
    • § 52:3.1 : Who Can Benefit from Foreign Trusts?52-4
    • § 52:3.2 : Small Business Job Protection Act of 199652-4
    • § 52:3.3 : New Definition of Foreign Trust52-5
    • § 52:3.4 : Continuing Former Domestic Classification52-6
    • § 52:3.5 : New Rules Affecting Inbound Grantor Trusts52-6
    • § 52:3.6 : Regulations52-7
    • § 52:3.7 : Purported Gift Rule52-8
    • § 52:3.8 : Outbound Grantor Trusts52-9
    • § 52:3.9 : Former Excise Tax on Outbound Transfers Replaced with “Deemed” Sale Provisions52-9
      • [A] : Section 679 Regulations52-10
        • [A][1] : Generally52-10
        • [A][2] : Pre-Immigration Trusts52-11
        • [A][3] : Outbound Migration of Domestic Trusts52-11
      • [B] : Section 684 Regulations52-11
      • [B][1] : Generally52-11
      • [B][2] : Outbound Migration of Domestic Trusts52-12
      • [B][3] : Self-Owned Trusts52-12
    • § 52:3.10 : “Nongrantor” Foreign Trust Modifications52-13
    • § 52:3.11 : Foreign Gifts Are Reportable by U.S. Persons52-13
    • § 52:3.12 : New Extensive Reporting Required by Foreign Trusts52-13
    • § 52:3.13 : Person Responsible for Filing52-14
    • § 52:3.14 : Noncompliance Penalties52-14
    • § 52:3.15 : U.S. Agent for Examination and Disclosure52-15
Chapter 54: Changing the Situs of a Trust
  • § 54:1 : Introduction54-1
  • § 54:2 : Threat of Unforeseen Circumstances54-1
    • § 54:2.1 : Moving the Trust to Protect Your Assets54-1
    • § 54:2.2 : Locating Assets Outside Trust Jurisdiction54-2
      • [A] : The “Canadian Solution”54-2
Chapter 55: Emergency Trusts and Asset-Protection Trusts
  • § 55:1 : Introduction55-1
    • § 55:1.1 : Trading with the Enemy Act55-2
    • § 55:1.2 : International Emergency Economic Powers Act55-2
  • § 55:2 : How a Domestic Emergency Trust Works55-2
    • § 55:2.1 : Creating the Trust55-3
      • [A] : Protecting Non-U.S. Assets55-3
  • § 55:3 : Stages of Emergency55-3
    • § 55:3.1 : Pre-Emergency Period55-3
    • § 55:3.2 : Emergency Period55-4
      • [A] : Declaration of Emergency55-4
      • [B] : Duration of Emergency Period55-4
    • § 55:3.3 : End of Emergency55-4
      • [A] : Termination of Emergency55-4
      • [B] : Post-Emergency Period55-5
  • § 55:4 : Emergency Trust Considerations55-5
    • § 55:4.1 : Treated as Grantor Trust55-5
    • § 55:4.2 : Private Letter Ruling55-5
    • § 55:4.3 : When to Create the Trust55-5
    • § 55:4.4 : Ultra Vires Doctrine55-5
Chapter 61: Bank Secrecy Is a Myth
  • § 61:1 : Introduction61-1
  • § 61:2 : Numbered Bank Accounts61-1
    • § 61:2.1 : Switzerland61-2
    • § 61:2.2 : Bahamas and Cayman61-2
  • § 61:3 : Investigating Numbered Accounts61-3
    • § 61:3.1 : United States Not Conducive61-3
    • § 61:3.2 : Investigating Caribbean Bank Accounts61-3
    • § 61:3.3 : Uncovering Swiss Bank Accounts61-4
Chapter 62: Disclosure Requirements
  • § 62:1 : Anonymity and Disclosure62-1
  • § 62:2 : Disclosure Requirements for Corporations62-2
    • § 62:2.1 : Names of Incorporators62-2
    • § 62:2.2 : Beneficial Owners62-2
    • § 62:2.3 : Directors and Officers62-2
      • [A] : Nominee Directors and Officers62-3
    • § 62:2.4 : Shareholders of Record62-3
      • [A] : Registered Shares62-3
      • [B] : Bearer Shares62-3
      • [C] : Share Warrants to Bearer62-5
    • § 62:2.5 : Annual Returns62-5
  • § 62:3 : Disclosure Concerning Trusts62-6
  • § 62:4 : Avoiding Unauthorized Disclosure62-7
  • § 62:5 : Disclosure to Avoid Penalties62-7
    • § 62:5.1 : Commonly Taken Deductions—Return Form–Line Disclosures62-8
    • § 62:5.2 : Effect of Return Form Disclosures62-10
  • § 62:6 : Disclosure of Return Information by Return Preparers62-10
    • § 62:6.1 : Taxpayer’s Consent to Disclosure62-11
    • § 62:6.2 : Disclosure Outside the United States62-11
Chapter 63: Tax and Information Returns
  • § 63:1 : Introduction63-3
    • § 63:1.1 : Extension of Deadlines63-3
      • [A] : Terrorist Attacks63-5
      • [B] : Request for Extensions63-6
        • [B][1] : Automatic Extension63-6
      • [C] : Effect on Bankruptcy Discharge Qualification63-7
    • § 63:1.2 : Place to File63-8
      • [A] : Hand-Carried Returns63-8
    • § 63:1.3 : Payment of Tax63-8
      • [A] : Deposits63-8
  • § 63:2 : Foreign Interests63-9
    • § 63:2.1 : IRS Form 547163-9
      • [A] : Who Must File Form 547163-10
      • [B] : “Country-by-Country” Reporting63-12
    • § 63:2.2 : Foreign-Owned Corporations63-13
      • [A] : Form 547263-13
        • [A][1] : Electronic Filing63-14
      • [B] : Regular Corporate Tax Returns63-14
      • [C] : Foreign Operations of U.S. Corporations63-15
      • [D] : U.S.-Source Income (“Effectively Connected”)63-15
    • § 63:2.3 : Foreign Partnerships63-15
      • [A] : Controlled Foreign Partnerships63-16
      • [B] : Minimum Ownership Level63-16
      • [C] : Distributions to Foreign Partners63-17
      • [D] : Transfers to Foreign Partnerships63-17
    • § 63:2.4 : Foreign Trusts63-19
      • [A] : Non-Reporting63-19
        • [A][1] : Decedent’s Requirement to File Form 3520-A63-21
        • [A][2] : The Estate’s Assumption of the Decedent’s Liabilities63-21
          • [A][2][a] : Penalty Relief63-22
          • [A][2][b] : “Reportable Events”63-22
          • [A][2][c] : Return Due Dates63-23
          • [A][2][d] : Foreign Trust “Ownership”63-23
      • [B] : Foreign Trusts Versus Domestic Trusts63-23
      • [C] : Guam Income Tax Return63-24
    • § 63:2.5 : Gifts from Foreign Sources63-25
    • § 63:2.6 : PFICs63-26
    • § 63:2.7 : Corporate Inversions63-27
      • [A] : Brokers’ Reporting63-28
    • § 63:2.8 : Foreign Disregarded Entities63-28
    • § 63:2.9 : Foreign Bank and Financial Accounts63-29
      • [A] : Information Reporting by Financial Institutions63-31
        • [A][1] : 2014 Model IGAs63-46
      • [B] : Pass-Through Payments63-49
      • [C] : Account Balance or Value63-49
      • [D] : Settlement Payment Entities63-50
        • [D][1] : Reporting Rules63-51
        • [D][2] : Determining Payee’s U.S. Connection63-51
      • [E] : Specified Domestic Entity63-54
    • § 63:2.10 : Bank Secrecy Provisions63-54
      • [A] : U.S. Banks Reporting on Foreign Depositors63-56
      • [B] : Swiss-U.S. “Memorandum of Understanding”63-58
    • § 63:2.11 : Voluntary Disclosure63-60
      • [A] : 2012 Offshore Voluntary Disclosure Program (OVDP)63-61
    • § 63:2.12 : Foreign Financial Assets—Reporting by Individuals63-64
      • [A] : Filing Rules and Regulations63-65
      • [B] : Foreign Estates and Trusts63-66
      • [C] : FBAR Reporting63-67
      • [D] : Reporting by Individuals63-69
    • § 63:2.13 : Compelled Production of Bank Accounts and the Fifth Amendment63-70
    • § 63:2.14 : Taxpayer Access to Information Disclosed to Foreign Governments63-73
    • § 63:2.15 : Sentencing for Criminal Tax Avoidance63-74
  • § 63:3 : Residency of Individuals63-75
    • § 63:3.1 : U.S. Possessions Residents—Virgin Islands63-75
      • [A] : “Mirror” Tax System63-76
        • [A][1] : Filing Returns63-78
        • [A][2] : Deficiency Jurisdiction (As Opposed to Partnership/TEFRA Proceedings)63-82
      • [B] : U.S. Tax on Worldwide Income63-82
      • [C] : Net Investment Income Tax63-83
  • § 63:4 : Determining Foreign Interest63-84
    • § 63:4.1 : Foreign Bank and Securities Accounts63-84
    • § 63:4.2 : Treasury Form 90-22.163-84
  • § 63:5 : Currency and Other Monetary Instruments63-85
    • § 63:5.1 : Defining Monetary Instruments63-85
    • § 63:5.2 : Entering the United States with Currency63-85
    • § 63:5.3 : International Transportation of Currency63-85
    • § 63:5.4 : Currency Transaction63-86
      • [A] : Form 478963-86
      • [B] : Form 830063-86
    • § 63:5.5 : Foreign Depositors in U.S. Banks63-87
  • § 63:6 : Reporting Agricultural Land63-87
    • § 63:6.1 : AFIDA Form ASCS-15363-88
  • § 63:7 : Commerce Department Reporting63-88
    • § 63:7.1 : Commerce BE Forms63-89
  • § 63:8 : FIRPTA Reporting Abandoned63-89
  • § 63:9 : State Reporting63-90
  • § 63:10 : Exempt Organizations63-90
  • § 63:11 : Stock Transfers—Reporting Basis63-90
  • § 63:12 : Summonsed Disclosure63-91
Chapter 64: What Governments Do with Your Information
  • § 64:1 : Treasury Enforcement Communications System (TECS)64-1
    • § 64:1.1 : TECS Forms64-1
  • § 64:2 : Confidentiality of Tax Return Information64-2
    • § 64:2.1 : Authorized Disclosure64-2
    • § 64:2.2 : Unauthorized Disclosure or Searching64-3
    • § 64:2.3 : IRS Form 8300 May Be Return Information64-3
    • § 64:2.4 : Foreign Bank Account Form64-4
Chapter 65: Information Exchange Between Countries; and Appendices 65A-65C
  • § 65:1 : Exchange of Information Between Countries65-1
    • § 65:1.1 : TIEAs65-2
    • § 65:1.2 : CBI Agreements65-2
  • § 65:2 : How Information Is Exchanged65-3
    • § 65:2.1 : Exchanges on Request65-3
    • § 65:2.2 : Automatic Exchanges65-3
    • § 65:2.3 : Spontaneous Exchanges65-3
    • § 65:2.4 : Simultaneous Examinations65-4
  • § 65:3 : Court Upholds Service’s Authority65-4
  • Appendix 65A : Agreement with Mexico [Excerpts]65-7
  • Appendix 65B : Sample Article 26 “Exchange of Information” Provision65-13
  • Appendix 65C : Sample Article 26 “Exchange of Information” Provision65-15
Chapter 66: Mutual Administrative Assistance in Tax Matters; and Appendices 66A-66B
  • § 66:1 : Introduction66-1
  • § 66:2 : Treaty Provisions66-2
    • § 66:2.1 : Scope of the Treaty66-2
    • § 66:2.2 : Declining a Request66-2
    • § 66:2.3 : Secrecy66-2
    • § 66:2.4 : Territorial Application66-2
    • § 66:2.5 : Reservations66-3
    • § 66:2.6 : Government’s Unauthorized Disclosure of Return Information66-3
  • § 66:3 : Forms of Assistance66-4
    • § 66:3.1 : Exchange of Information66-4
      • [A] : Automatic Exchange66-4
      • [B] : Spontaneous Exchange66-5
      • [C] : Tax Examinations Abroad66-5
      • [D] : Recent Treaties66-5
      • [E] : Collection of Tax66-6
      • [F] : Confidentiality of Taxpayer Information66-7
    • § 66:3.2 : Assistance in Recovery66-9
      • [A] : Measures of Conservancy66-9
    • § 66:3.3 : Service of Documents66-9
      • [A] : Service by IRS Agents66-9
  • Appendix 66A : Convention on Mutual Administrative Assistance in Tax MattersApp. 66A-1
  • Appendix 66B : Present Status of the ConventionApp. 66B-1
Chapter 71: Foreign Investment in Bank Deposits
  • § 71:1 : Introduction71-1
  • § 71:2 : Foreign Investment Regulation71-2
    • § 71:2.1 : Tax Reform Act of 198671-2
    • § 71:2.2 : Estate Tax Glitch71-2
  • § 71:3 : Applying the Provisions71-2
    • § 71:3.1 : Types of Deposits Covered71-2
    • § 71:3.2 : Deposits Held Through U.S. Trust71-3
    • § 71:3.3 : Foreign Branch of U.S. Bank71-3
    • § 71:3.4 : Deposits of Nondomiciled Resident Alien71-4
  • § 71:4 : U.S. Money Market Funds71-4
    • § 71:4.1 : Money Market Defined71-4
    • § 71:4.2 : Tax Treatment71-5
    • § 71:4.3 : Offshore Money Market Funds71-5
  • § 71:5 : Congressional Debate71-5
Chapter 72: Foreign Investment in Stocks and Bonds
  • § 72:1 : Introduction72-2
  • § 72:2 : Estate Tax for Aliens72-2
    • § 72:2.1 : Rate Schedule72-2
    • § 72:2.2 : Bonds Subject to Estate Tax72-3
    • § 72:2.3 : Avoiding Estate Tax72-3
      • [A] : Foreign Holding Corporation72-3
      • [B] : Treaty Benefits72-3
    • § 72:2.4 : Estate Tax Glitch Cured72-4
  • § 72:3 : Gift Tax72-4
  • § 72:4 : Income Tax Regimes72-4
    • § 72:4.1 : Regime 1: U.S. Gains72-4
    • § 72:4.2 : Regime 2: Dividends, Interest, Non-U.S. Gains72-4
      • [A] : Income Defined72-5
      • [B] : Exemptions for Foreign Payees72-5
    • § 72:4.3 : Regime 3: None of the Above72-5
    • § 72:4.4 : “Effectively Connected” Income72-6
      • [A] : Insurance Companies72-6
        • [A][1] : Acquired Domestic Insurance Companies72-6
        • [A][2] : Foreign Insurance Companies72-7
      • [B] : Return Filing Requirement72-8
      • [C] : Stockbroker’s Basis Reporting72-8
  • § 72:5 : Minimizing Taxes with Securities72-9
    • § 72:5.1 : Treasury Securities72-10
      • [A] : Treasury Bonds and Notes72-10
      • [B] : Treasury Bills72-10
    • § 72:5.2 : Debt Securities72-11
    • § 72:5.3 : Municipal Bonds72-11
    • § 72:5.4 : Corporate Bonds72-11
    • § 72:5.5 : Eurodollar Bonds and International Finance Subsidiaries72-11
      • [A] : 80-20 Corporations72-12
      • [B] : Netherlands Antilles Finance Subsidiaries72-13
  • § 72:6 : Portfolio Interest72-14
    • § 72:6.1 : Qualified Portfolio Interest72-15
  • § 72:7 : Portfolio Dividends72-16
    • § 72:7.1 : Treaty-Country Dividends72-16
Chapter 73: Foreign Investment in Real Estate
  • § 73:1 : Introduction73-2
  • § 73:2 : Provisions for Property Interests73-2
    • § 73:2.1 : Section 89773-2
    • § 73:2.2 : FIRPTA Withholding73-3
      • [A] : Exceptions for Withholding73-4
      • [B] : Taxpayer Identification Number (TIN)73-5
      • [C] : 2003 Regulations73-5
      • [D] : Individual Taxpayer Identification Number (ITIN)73-6
      • [E] : Acceptance Agents73-6
  • § 73:3 : FIRPTA73-7
    • § 73:3.1 : Loopholes73-7
      • [A] : Installment Sales73-8
      • [B] : Like-Kind Exchanges73-8
      • [C] : Sale Coupled with Liquidation73-8
      • [D] : Sale of Holding Company Shares73-9
      • [E] : Discontinuing Annual Net-Basis Election73-9
      • [F] : REIT Distributions73-9
      • [G] : Corporate Distributions73-10
      • [H] : Options and Contracts to Purchase73-10
    • § 73:3.2 : Planning Under FIRPTA73-10
    • § 73:3.3 : Changes Under 1986 Tax Reform Act73-10
    • § 73:3.4 : Estate Tax Implications73-11
    • § 73:3.5 : Property Covered by FIRPTA73-12
      • [A] : Notional Principal Contracts/ Index Investments73-12
      • [B] : Government Leases—Toll Roads and Bridges73-12
    • § 73:3.6 : Noncorporate Rate Lower73-13
    • § 73:3.7 : The “(i) Election”73-13
    • § 73:3.8 : Domestic Like-Kind Exchanges73-13
    • § 73:3.9 : Foreign Holding Company Shares73-13
  • § 73:4 : Conclusion73-14`
Chapter 75: Branch Profits Tax on Foreign Corporations
  • § 75:1 : Section 884 Introduces Branch Profits Tax75-1
    • § 75:1.1 : Equalizing Tax Treatment of Branch and Subsidiary75-2
    • § 75:1.2 : Is Parity Possible?75-3
  • § 75:2 : Calculating the Branch Profits Tax75-3
  • § 75:3 : Treaty Relief75-5
    • § 75:3.1 : Qualifying Requirements75-5
    • § 75:3.2 : Treaties May Reduce Rate75-6
  • § 75:4 : Minimizing the Branch Profits Tax75-6
Chapter 76: Choosing Among Corporations, Partnerships, and LLCs
  • § 76:1 : Introduction76-1
  • § 76:2 : Individual Versus Corporate Investment76-2
  • § 76:3 : Achieving Individual Tax Rates76-2
    • § 76:3.1 : Proprietorship76-3
    • § 76:3.2 : Partnership76-3
      • [A] : Withholding on Foreign Partners76-3
      • [B] : Partnership Tax Year76-5
      • [C] : Allocations to Foreign Partners76-6
    • § 76:3.3 : Limited Liability Company76-6
    • § 76:3.4 : Trust76-7
      • [A] : Withholding76-7
    • § 76:3.5 : S Corporation Possibility76-8
    • § 76:3.6 : Split-Interest Ownership76-8
Chapter 77: Deducting Interest Paid to Related Parties
  • § 77:1 : Interest Payments to Related Parties—General Principles77-1
Chapter 78: Inbound Transactions: Withholding and Reporting
  • § 78:1 : Carryovers: Mergers and Acquisitions78-3
    • § 78:1.1 : Hovering Deficit Rule78-3
    • § 78:1.2 : Section 361 Exchanges78-4
    • § 78:1.3 : Section 351 Exchanges78-4
      • [A] : Exception for Transfers of Foreign Goodwill or Going Concern Value78-6
  • § 78:2 : Securities Trading78-6
  • § 78:3 : Withholding Rules78-7
    • § 78:3.1 : In Lieu of Filing Return78-7
    • § 78:3.2 : Certification of Foreign Status78-8
    • § 78:3.3 : Supplemental Wages78-8
    • § 78:3.4 : Currency Conversion78-9
    • § 78:3.5 : Nonresident Aliens78-9
    • § 78:3.6 : Treaty Provisions (Reducing Withholding Rate)78-11
  • § 78:4 : Reporting Rules78-12
    • § 78:4.1 : Documentary Evidence78-13
    • § 78:4.2 : Foreign-Source Services Income78-13
    • § 78:4.3 : Treaty-Based Return Positions78-14
    • § 78:4.4 : Partnerships78-14
    • § 78:4.5 : Allocating Interest Expense78-14
    • § 78:4.6 : Country-by-Country Reporting78-15
  • § 78:5 : Withholding Regulations78-15
    • § 78:5.1 : Beneficial Owners78-15
    • § 78:5.2 : Sourcing Payments78-15
    • § 78:5.3 : Effective Date78-16
  • § 78:6 : Particular Withholding Situations78-17
    • § 78:6.1 : Interest and Dividend Income78-17
      • [A] : Withholding Rate78-18
      • [B] : Tax Avoidance—The Economic Substance Rule78-18
      • [C] : STARS Transactions78-20
    • § 78:6.2 : Notional Principal Contracts78-20
    • § 78:6.3 : Partnerships, Trusts, and Estates78-20
      • [A] : Reduction for Foreign Partner’s Deductions78-22
      • [B] : Grantor Trusts—TIN78-22
    • § 78:6.4 : Transparent Entities78-23
    • § 78:6.5 : Alien Students78-23
    • § 78:6.6 : Foreign Athletes78-24
    • § 78:6.7 : U.S. Real Property Interests (FIRPTA Reporting)78-25
    • § 78:6.8 : Effectively Connected Income (ECTI)78-25
      • [A] : Foreign Partner Status78-25
      • [B] : Calculating ECTI78-26
      • [C] : Paying Withholding Tax78-26
      • [D] : Publicly Traded Partnerships78-26
      • [E] : Tiered Structures78-27
      • [F] : Estate and Trust Provisions78-27
    • § 78:6.9 : Built-In Losses78-28
    • § 78:6.10 : Liquidating Distributions78-28
    • § 78:6.11 : Gambling Activities by Non-U.S. Persons78-28
    • § 78:6.12 : Mutual Funds (Regulated Investment Companies)78-29
    • § 78:6.13 : U.S. Possessions Payors78-29
    • § 78:6.14 : Cross-Licensing Arrangements78-30
    • § 78:6.15 : Corporate Distributions to Foreign Shareholders78-30
    • § 78:6.16 : “Fails” Charges78-31
    • § 78:6.17 : Dividend Equivalents—Nonresident Aliens78-33
  • § 78:7 : Withholding Agents78-34
    • § 78:7.1 : Taxpayer Identification Number (TIN)78-35
  • § 78:8 : Qualified Intermediaries78-36
    • § 78:8.1 : Agreement78-37
    • § 78:8.2 : Qualified Persons78-38
    • § 78:8.3 : Application for QI Status78-39
    • § 78:8.4 : Primary Withholding Responsibility78-40
    • § 78:8.5 : “Know Your Customer” Rules78-40
    • § 78:8.6 : Payments to Nonqualified Foreign Intermediary78-43
      • [A] : Possessions Financial Institutions78-43
    • § 78:8.7 : Independent Audit Requirement78-43
      • [A] : Audit Guidelines78-44
  • § 78:9 : Gain Recognition Agreements78-44
    • § 78:9.1 : Regulations78-45
  • § 78:10 : Outbound Transactions78-46
  • § 78:11 : Sale or Distribution of Interest in Foreign Corporations78-46
  • § 78:12 : 2008 Proposed Regulations78-47
    • § 78:12.1 : Gain Recognition by U.S. Transferor78-48
    • § 78:12.2 : Adjustments to Basis of Stock78-48
    • § 78:12.3 : Agreement to Recognize Gain and File Amended Tax Return78-48
    • § 78:12.4 : Election and Reporting Requirements78-49
  • § 78:13 : Section 367(b)78-49
    • § 78:13.1 : Outbound Asset Reorganizations78-49
    • § 78:13.2 : Special Rules for Outbound Triangular Asset Reorganizations78-50
  • § 78:14 : Distributions of Foreign Stock—Section 1248(f)78-50
    • § 78:14.1 : Transfer of Property—Section 36778-51
    • § 78:14.2 : 2013 Regulations78-52
    • § 78:14.3 : 2016 Final Regulations78-53
  • § 78:15 : The “Coordination Rule”— Regulation § 1.367(a)-3(d)(2)(vi)(A)78-54
Chapter 79: Significance of State and Local Taxes [Reserved]
Chapter 85: U.S. Taxation of Foreign Corporation Operations
  • § 85:1 : Introduction85-2
    • § 85:1.1 : Tax Avoidance Transactions—Generally85-2
      • [A] : Tax Avoidance Purpose85-2
      • [B] : Economic Substance85-3
      • [C] : Business Purpose and Sham Transactions85-5
      • [D] : Trusts85-5
      • [E] : Offshore Employee Leasing85-6
    • § 85:1.2 : Corporate Inversions—Background85-6
      • [A] : Code and Regulations85-7
        • [A][1] : Surrogate Foreign Corporations85-8
        • [A][2] : Ownership Condition85-10
      • [B] : Other Penalties85-12
    • § 85:1.3 : Stapled Corporations85-12
    • § 85:1.4 : U.S. Corporation Foreign Branches— Dual Consolidated Losses85-13
    • § 85:1.5 : U.S. Government Contract Work85-13
  • § 85:2 : Deferred Income85-14
  • § 85:3 : Accumulated Earnings85-15
  • § 85:4 : Liquidations and Reorganizations85-15
    • § 85:4.1 : General Rules85-15
    • § 85:4.2 : Exceptions85-16
    • § 85:4.3 : Principal Purpose of Tax Avoidance85-16
  • § 85:5 : World Headquarters Investment Tax Credit85-17
  • § 85:6 : International Operation of Ships and Aircraft Exception85-17
    • § 85:6.1 : Regulations85-18
    • § 85:6.2 : Leasing Vessels and Aircraft85-20
  • § 85:7 : Election by Foreign Insurer to Be Treated As Domestic Corporation85-20
  • § 85:8 : IRS Summons to Obtain Information85-20
  • § 85:9 : Foreign Procurement Tax85-20
Chapter 86: Controlled Foreign Corporations
  • § 86:1 : Generally86-2
    • § 86:1.1 : CFC Rules86-2
    • § 86:1.2 : Ten-Percent Shareholders86-3
      • [A] : 2004 Proposed Regulations86-4
    • § 86:1.3 : Dividend Deduction86-5
      • [A] : Foreign Earnings Repatriation— Section 96586-5
      • [B] : Cash Dividends86-7
      • [C] : Distributions to Intermediary Pass-Through Entities86-7
      • [D] : No Reduction for Deductions or Expenses86-7
      • [E] : Coordination with Section 95986-8
      • [F] : Domestic Reinvestment Plan86-8
        • [F][1] : Expenditures in Year of Election86-9
        • [F][2] : Partially Completed Plans86-9
      • [G] : Qualified Investments—Miscellaneous86-10
        • [G][1] : Financial Stabilization to Create or Retain Jobs86-11
        • [G][2] : Acquisitions of Business Interests86-11
        • [G][3] : Advertising and Marketing86-12
        • [G][4] : Intangible Property86-12
      • [H] : Non-Qualified Investments86-12
      • [I] : Electing Under Section 96586-13
      • [J] : Reporting Rules86-15
      • [K] : Documentation and Production of Records86-15
      • [L] : Safe Harbors86-16
        • [L][1] : Facts and Circumstances Test86-16
      • [M] : Transition Rules86-17
    • § 86:1.4 : Accounting Method86-17
  • § 86:2 : Subpart F Income86-17
    • § 86:2.1 : Foreign Base Company Sales Income86-18
      • [A] : Contract Manufacturing86-19
      • [B] : Foreign Personal Holding Company Income (FPHCI)86-20
      • [C] : Sale of Partnership Interest86-21
    • § 86:2.2 : Exceptions from Subpart F Treatment86-21
    • § 86:2.3 : Reducing Subpart F Income86-22
      • [A] : Offsets for Qualified Chain Members86-22
    • § 86:2.4 : Improperly Avoiding Subpart F Income86-23
      • [A] : Hybrid Branches86-23
    • § 86:2.5 : Partnership Distributions86-24
    • § 86:2.6 : Sanctioned/Restricted Presence Countries86-25
    • § 86:2.7 : Foreign Base Company Services Income86-25
  • § 86:3 : IRS Rulings86-26
    • § 86:3.1 : Contract Manufacturing86-26
    • § 86:3.2 : Stock Sales86-26
  • § 86:4 : Investing in U.S. Property86-27
    • § 86:4.1 : Earnings Invested in U.S. Property86-27
      • [A] : Obligations of a U.S. Person86-28
    • § 86:4.2 : Readily Marketable Securities86-29
    • § 86:4.3 : Tax-Free Exchanges/Nonrecognition Transactions86-29
    • § 86:4.4 : Notional Principal Contracts86-29
      • [A] : Clearinghouse Margin Requirements to Manage Credit Risk86-31
        • [A][1] : Initial Variation Margin Required to Offset Up-Front Payment86-31
        • [A][2] : Daily Variation Margin Required to Account for Daily Market Fluctuation86-31
  • § 86:5 : Previously Taxed Income86-33
  • § 86:6 : Nonrecognition Transactions/Mergers & Acquisitions/Section 124886-33
Chapter 87: Foreign Personal Holding Companies (FPHCs)
  • § 87:1 : Generally87-1
  • § 87:2 : Foreign Personal Holding Company87-1
    • § 87:2.1 : Exempt Income87-2
      • [A] : Commodities Hedging Transactions87-3
      • [B] : Currency Transactions87-3
      • [C] : Insurance Income87-3
      • [D] : Related CFC Income87-4
    • § 87:2.2 : Notional Principal Contracts87-4
    • § 87:2.3 : Foreign Currency Trading87-5
  • § 87:3 : Mark-to-Market (§ 1296) Election87-5
Chapter 88: Passive Foreign Investment Companies (PFICs)
  • § 88:1 : Introduction88-1
  • § 88:2 : PFIC Defined88-1
    • § 88:2.1 : Insurance Companies88-2
    • § 88:2.2 : CFCs That Are Also PFICs88-3
  • § 88:3 : Tax Attributes88-3
  • § 88:4 : QEF Election88-4
    • § 88:4.1 : Retroactive Election88-5
    • § 88:4.2 : Later-Year Elections88-5
    • § 88:4.3 : Purging Elections88-6
  • § 88:5 : Mark-to-Market Election88-7
    • § 88:5.1 : Marketable Stock88-9
  • § 88:6 : Preferred Stock88-10
  • § 88:7 : Shareholder Reporting88-11
Chapter 89: Foreign Investment Companies
  • § 89:1 : Foreign Investment Companies89-1
Chapter 90: Anti-Deferral Measures in Other Countries
  • § 90:1 : Introduction90-1
  • § 90:2 : Existing Measures90-2
    • § 90:2.1 : Australian Measures90-2
      • [A] : Australian Tax Havens List90-2
      • [B] : Attacking the Use of Havens90-2
    • § 90:2.2 : Belgian Measures90-3
    • § 90:2.3 : Canadian Rules90-4
    • § 90:2.4 : German Legislation90-4
    • § 90:2.5 : Indian Legislation90-4
    • § 90:2.6 : Japanese Legislation90-4
    • § 90:2.7 : New Zealand Legislation90-5
    • § 90:2.8 : United Kingdom Measures90-5
      • [A] : Controlled Foreign Companies90-5
    • § 90:2.9 : EEC Measures90-6
Chapter 91: Foreign Sales Corporations as Export Incentives
  • § 91:1 : Introduction91-2
    • § 91:1.1 : History of the DISC91-2
      • [A] : Interest on Deferred Tax Liability91-3
      • [B] : DISC Owner’s IRA91-3
    • § 91:1.2 : Birth of the FSC91-5
    • § 91:1.3 : FSC’s Current Status91-5
    • § 91:1.4 : Extraterritorial Income Exclusion Act91-6
      • [A] : Elections Under the Extraterritorial Income Exclusion Act91-10
    • § 91:1.5 : Repeal of the ETI91-10
    • § 91:1.6 : Domestic Production Deduction91-11
      • [A] : Deduction Limits91-12
        • [A][1] : Wage Limitation91-13
      • [B] : Qualified Production Activities Income91-14
        • [B][1] : Source of Income91-16
        • [B][2] : Manufacturing and Production Requirement91-16
        • [B][3] : Allocating Interest Expense91-17
      • [C] : Domestic Production Gross Receipts (DPGR)91-17
        • [C][1] : Significant U.S. Production91-18
        • [C][2] : Construction Activity91-18
        • [C][3] : Engineering and Architectural Services91-20
        • [C][4] : Films91-21
        • [C][5] : Food and Beverage Sales91-23
        • [C][6] : Allocation Between U.S. and Foreign Production91-23
        • [C][7] : Telecommunications Services91-24
      • [D] : Cost of Goods Sold91-25
      • [E] : Qualified Production Property91-26
        • [E][1] : Electricity, Natural Gas, and Potable Water91-27
      • [F] : Pass-Through Entities91-28
      • [G] : Individuals91-29
      • [H] : Cooperatives91-29
      • [I] : Expanded Affiliated Groups91-29
      • [J] : Trade or Business Requirement91-30
      • [K] : Alternative Minimum Tax91-30
  • § 91:2 : DISC and FSC Compared91-30
    • § 91:2.1 : Domestic Versus Foreign91-30
    • § 91:2.2 : FSC Is Revenue-Neutral91-31
  • § 91:3 : FSC Requirements91-31
    • § 91:3.1 : Organizational Requirements91-31
      • [A] : Qualifying Jurisdictions91-32
      • [B] : U.S. Virgin Islands91-32
    • § 91:3.2 : Nonresident Individual Director Required91-32
    • § 91:3.3 : Management Requirements91-33
    • § 91:3.4 : Operational Requirements91-33
    • § 91:3.5 : Foreign Economic Process Tests Requirement91-33
    • § 91:3.6 : Fiscal Year91-34
  • § 91:4 : FSC Tax Benefits91-34
    • § 91:4.1 : Transfer Pricing Rules91-34
      • [A] : Grouping Election91-35
    • § 91:4.2 : Exempt Foreign Trade Income91-35
      • [A] : Export Property Generally91-35
      • [B] : Royalties on Patents91-36
    • § 91:4.3 : No Foreign Tax Credit91-36
    • § 91:4.4 : Tax Treaties Inapplicable91-37
    • § 91:4.5 : Relief for Smaller Exporters91-37
      • [A] : Small FSC91-37
      • [B] : Interest-Charge DISC91-37
      • [C] : Interest Netting91-38
  • § 91:5 : Conclusion91-40
Chapter 93: Tax Benefits of Offshore Banks
  • § 93:1 : Introduction93-1
  • § 93:2 : Offshore Banks93-2
    • § 93:2.1 : Captive Banks: Choosing the Place93-2
      • [A] : Bahamas93-3
      • [B] : Cayman Islands93-3
      • [C] : Bermuda93-3
      • [D] : Turks and Caicos93-3
      • [E] : Vanuatu93-4
      • [F] : Switzerland93-4
      • [G] : Jersey and Guernsey93-4
      • [H] : Luxembourg93-4
      • [I] : Panama93-4
      • [J] : Netherlands Antilles93-5
      • [K] : Nauru93-5
      • [L] : British Virgin Islands93-5
      • [M] : Isle of Man93-5
    • § 93:2.2 : Avoid Shell Banks93-5
  • § 93:3 : Organizing an Offshore Bank93-6
    • § 93:3.1 : License Applications93-6
      • [A] : Cayman Islands93-6
      • [B] : Bahamas93-7
  • § 93:4 : U.S. Taxation of Offshore Banks93-8
    • § 93:4.1 : International Banking Facility93-8
Chapter 94: Captive Insurance Companies
  • § 94:1 : Introduction94-1
  • § 94:2 : Pure Captives94-2
    • § 94:2.1 : Advantages of Insuring with Captives94-2
      • [A] : Tax Deductions and Exchange Control94-2
      • [B] : Coverage Against Special Risks94-2
      • [C] : Investing Freed-Up Reinsurance Premiums94-3
    • § 94:2.2 : Subpart F Income94-3
      • [A] : Special Circumstances94-3
  • § 94:3 : IRS Attacks Captives94-3
    • § 94:3.1 : Revenue Rulings94-4
    • § 94:3.2 : Carnation Company Case94-4
    • § 94:3.3 : 1984 Tax Reform Act94-5
    • § 94:3.4 : 1986 Tax Reform Act94-5
  • § 94:4 : Suitable Offshore Jurisdictions94-6
    • § 94:4.1 : Bermuda94-6
    • § 94:4.2 : Bahamas94-7
    • § 94:4.3 : Cayman94-7
    • § 94:4.4 : Guernsey and Isle of Man94-7
    • § 94:4.5 : Luxembourg94-7
  Index

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