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To: Janice Shell who wrote (8017)	10/3/1998 5:21:00 PM
From: Hogger	Read Replies (1) \| Respond to of 26163

<<<It must be SO convenient to have money in an offshore tax haven, dontcha think?>>> Darned right it is ... of course it is also verrrry convenient to be close to Switzerland and the other Europen financial centers ... now don't you agree. BTW, last time I checked, there was nothing illegal about using offshore tax shelters. <<<I really want to know more about Titan.>>> I'd like to know more about Bill Gates finances, too. Sometimes, it's just not anyones business. Hogger

To: Janice Shell who wrote (8017)	10/4/1998 8:22:00 AM
From: tonto	Read Replies (1) \| Respond to of 26163

Actually, it isn't because of the changes made in the expatriation act, tax code,... If one properly sets up a LLC, an irrevocable trust,...it can be helpful if there is litigation in the future, but then it must be absolutely clean and done so at least two years before litigation to ensure protection from US arm. For example, while the funds may be abroad, if the court can determine a domiciled US citizen controls the funds, it can order him to return the funds to the US and can find the person in contempt of court until he does so. This action alone breaks down much of the offshore "convenience" that one read's in the back of some magazines... What is extremely important to the IRS is how it is identified on the tax return.