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swiss annuity vs IRS crackdown on accountants


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The article has nothing to do with the heading "swiss annuity vs IRS". Most Swiss annuities are compliant with US tax laws. And since they provide tax-deferred inside buildup, there is no taxable income to disclose to IRS until the contract is surrendered or withdrawals are taken.

This article should be deleted since you posted it on another thread already.

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Blinky the 3-eye...

You added me as a friend? I find your posts to be self-indulgent and wasteful of my time.

Wow! There must an alternate universe that Lance inhabits.

John Simmons

johnsimmonslaw@gmail.com

Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.

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Guest VEBAPLAN

Leaving Thursday for Switzerland to study how to use a Swiss Annuity to asset protect homes etc. Was told that if you disclose it is legal in US and is a great way to asset protect things, without using trusts. Also told that they had other great uses. A publisher wants a book on point. Anyone with questions please contine to contact me. So far they were great questions. 516 9385007 lanwalla@aol.com Lance Wallach

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I would be concerned about the advice you receive from a Swiss firm about applicability of US laws (tax, insurance or otherwise) to the purchase of Swiss annuities. The information then can give you will likely be correct for Swiss residents, but may or may not be correct for US residents. Moreover, since so-called "Swiss annuities" are a form of variable annuities that provide a choice of index and a choice of currency, they are securities under US law. It is my understanding that recommending them to US residents would likely violate US securities laws. While writing a book in general terms is not a "recommendation" per se, having people contact you so that you can guide them through the process is likely to violate US securities laws. Be careful. You may come back from Switzerland unable to discuss what you have learned. You are highly focused on getting on IRS's bad side. The SEC is every bit as tough.

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Guest VEBAPLAN

You are correct on all counts. Need the info for a book. Not selling anything. They already told me this, as did my atty. but as always thanks for the good advise Need some a watch or another swiss army knife?

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Guest VEBAPLAN

Back with great suff for the new book for Wiley and Bisk, maybe they will give members a discount, mention my name to buy two but pay for three. That is what some of you sell to your clients. lol Ron anything illegal about me buying a lot of Swiss Francs as a hedge agains the Obama Dollar, sure to be a great investment.

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I was told IRS took all computers etc

Lance, this is nothing more than a rumor, which is not useful to anyone.

If you have additional details or sources of information, please post them.

Thank you.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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