US Tax Implications of Foreign Life Insurance
The U.S. tax code contains excellent tax benefits for U.S. (domestic) life insurance companies, and the owners of their life insurance policies. However, for U.S. citizens and U.S. residents to obtain those tax benefits with respect to a foreign life insurance policy,
Malta pension plans listed on “Dirty Dozen” list of “tax scams”
Last week, the Internal Revenue Service (IRS) placed certain Malta-based pension plan arrangements on its annual “Dirty Dozen” list of “tax scams.” In its recent news release, the IRS warns that it is evaluating the validity of such arrangements and