Law Advice
+ Reply to Thread
Results 1 to 3 of 3
  1. 05-27-2005, 08:30 PM #1
    JustLearning
    JustLearning is offline Junior Member
    Join Date
    May 2005
    Posts
    1

    Question OffShore HYIP Programs-Are they legal for US citizen?

    What is the name of your state? Delaware.

    I am a United States citizen that is reseraching investing in HYIP programs or other offshore investment programs.

    First, is this legal for me?
    Second, how would I file my taxes?

    Any guidance would be much appreciated
    Last edited by JustLearning; 05-27-2005 at 08:33 PM.
    Reply With Quote Reply With Quote
  3. 06-11-2012, 07:19 AM #2
    LdiJ
    LdiJ is offline Senior Member
    Join Date
    May 2004
    Posts
    61,255
    Quote Originally Posted by JustLearning View Post
    What is the name of your state? Delaware.

    I am a United States citizen that is reseraching investing in HYIP programs or other offshore investment programs.

    First, is this legal for me?
    Second, how would I file my taxes?

    Any guidance would be much appreciated
    A US citizen is not prohibited from investing abroad. However, if the US citizen does not report their world-wide income on their tax return, that US citizen would end up in a world of hurt.
    in vino veritas
    Reply With Quote Reply With Quote
  4. 06-11-2012, 09:34 AM #3
    tranquility
    tranquility is offline Senior Member
    Join Date
    Mar 2006
    Posts
    16,679
    As in all things, it depends. One thing this particular thing would depend on is what you know and what your intent is. My understanding is a HYIP is a fancy name for the first people in get profit while the last people in get screwed.

    Is that your intent?
    When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it.
    --W. T. Pooh (aka A. A. Milne)
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. U.S. Citizen, offshore corporation
    By dandate in forum Starting and Operating a Business
    Replies: 0
    Last Post: 02-24-2012, 09:18 PM
  2. US citizen marrying legal non-citizen resident
    By kylynara in forum Immigration
    Replies: 6
    Last Post: 09-16-2008, 02:07 PM
  3. Are autosurf programs legal to run in the states?
    By afmatt in forum Brokers & Investments
    Replies: 0
    Last Post: 10-21-2005, 01:33 AM
  4. are credit settlement and chargeoff programs legal?
    By bunny2004 in forum Consumer Bankruptcy
    Replies: 3
    Last Post: 02-11-2004, 02:13 PM
  5. Legal Aid Programs
    By Sreeraj in forum Civil Litigation
    Replies: 3
    Last Post: 08-08-2001, 12:03 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules

Advice Company, Internet Services, Sausalito, CA HACKER SAFE certified sites prevent over 99.9% of hacker crime.

© 1995-2012 Advice Company, All Rights Reserved

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our Disclaimer and Terms & Conditions Of Use.

FreeAdvice on Twitter FreeAdvice on Facebook FreeAdvice on Google+

Use for marketing or solicitation is prohibited. AttorneyPages®, ExpertPages® and FreeAdvice® are trademarks and units of Advice Company