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If you ask the typical American tax administrator to name a notorious tax haven they would probably name the Cayman Islands or the British Virgin Islands or some other small nation that makes a disproportionate amount of its budget by accommodating international tax structures. Ask the same question of a European tax administrator and the answer will likely be Delaware or Nevada. The ease and rapidity with which a U.S. Limited Liability Company (LLC) can…
The highway funding bill recently signed by President Obama, is aimed at aiding the collection of tax debts. Any US citizen with a debt of more than 50 thousand dollars to the IRS, whether living in or outside of the US, could face revocation of his passport, a refusal to renew it, or imposition of restrictions on it. Since this law will not discriminate between US citizens living in the US and those abroad, the…