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IRS Red Flags

  • Post #1
  • Quote
  • First Post: Aug 2, 2007 11:17am Aug 2, 2007 11:17am
Hello.

I am considering opening an account (through my company) w/ Crown or DeltaStock. Because they are overseas, does the IRS frown on this in any way? Are there special provisions that must be made?

This is all new to me.

Thanks.
They will find out sooner or later and you can be like me and get a bill for $220,000 for 2001 and spend 1-2 years and LOTS of time getting it sorted out. Just do it right or enjoy the lean on everything you own.
Keep taking CT trades, I need more money
Quoting Ryanmcd
They will find out sooner or later and you can be like me and get a bill for $220,000 for 2001 and spend 1-2 years and LOTS of time getting it sorted out. Just do it right or enjoy the lean on everything you own.


If you loose all of your money than no they dont care. If you make a bunch of money than yes they do care and yes they will catch you. Having an overseas broker is no different than a U.S broker except YOU are responsible for reporting your earnings to Uncle Sam. And THEY WILL FIND OUT if you make a ton of dough and have not paid them. You cant even have a Swiss bank account to hide your money anymore, because get this, The U.S passed a law requiring swiss banks to report account information of U.S citizens to the I.R.S. The good ol U.S.A passing laws in other countries. Makes me sick. However my wife is swiss and she dose not have to report to the I.R.S, which is why she will not get a green card, we can still travel back to the states but she does not have to report earnings whereas I do. Needless to say my wife makes alot more money than me.
Now if there was a smiley with the middle finger I would insert it here.
(pointed to the I.R.S of course)
Just Trade It
I have no intention of evading taxes. I plan to report everything.

I want to know if the IRS looks at overseas brokers differently.

-Thanks
No, they dont
Just Trade It
Quoting Big Wave Rider


If you loose all of your money than no they dont care. If you make a bunch of money than yes they do care and yes they will catch you. Having an overseas broker is no different than a U.S broker except YOU are responsible for reporting your earnings to Uncle Sam. And THEY WILL FIND OUT if you make a ton of dough and have not paid them. You cant even have a Swiss bank account to hide your money anymore, because get this, The U.S passed a law requiring swiss banks to report account information of U.S citizens to the I.R.S. The good ol U.S.A passing laws in other countries. Makes me sick. However my wife is swiss and she dose not have to report to the I.R.S, which is why she will not get a green card, we can still travel back to the states but she does not have to report earnings whereas I do. Needless to say my wife makes alot more money than me.
Now if there was a smiley with the middle finger I would insert it here.
(pointed to the I.R.S of course)
You can move lock stock to the Uk as you don't pay tax in the Uk for spread betting.........................................
Le singe est dans l'arbre
But where would I go skiing?
Just Trade It
Quoting Big Wave Rider
But where would I go skiing?
Well Scotland is poor in the winter, we have France, Switzerland, Germany some other up & coming eastern states. You can also do it in Cyprus, ski in the morning, sun bathe in the afternoon. But it is only about 18 -20 degrees C in about March April if memory serves my correctly; I don't know what it is in Fahrenheit(spelling?).

Runs not as empty as the US or Canad.

With a lack of snow you could mountain board, kite board, kite buggy.
Le singe est dans l'arbre
  • Post #9
  • Quote
  • Last Post: Aug 2, 2007 2:37pm Aug 2, 2007 2:37pm
Having lived in Vail Colorado for 8 years has really spoiled me rotten. I am used to no lift lines, champange powder and huge wide open runs, Living here in Switzerland is not bad, but there is no comparison to Colorado cant wait to go back this winter, SNOW BABY SNOW! wait, what am I saying. I havent even been able to enjoy summer yet. Too cold and too rainy.
Just Trade It
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