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OffShore HYIP Programs-Are they legal for US citizen?

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JustLearning

Junior Member
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 :)
 
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LdiJ

Senior Member
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.
 

tranquility

Senior Member
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?
 

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