"TaxMatters" <TaxMattersLLC[at]msn.com> wrote:

- quote -

Do you think the Fiance was part of the scam or was he duped
also?

--
Vic Roberts
Replace xxx with vdr in e-mail address.

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Follow up on my original post: Thanks to all who answered
and valuable suggestions- based on the imput I have done
further investigation-It appears this is indeed a Nigerian
419 scam. Paperwork is all from Logos Nigeria. This poor
girl is probably out $75,000.00. I have not told her yet.
She mentioned her so called fiance comes to the US to
visit-possibly she can get secret service involved on her
next "DATE". Thanks again-this is why I use this site!!!

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"hlunsford[at]bellsouth.net" <hlunsford[at]bellsouth.net> wrote:
- quote -

Maybe the $15 million is forged.

Stu

Moderator:
The Secret Service has a unit in its Financial Frauds
Section that is dedicated to the Nigerian 419 scam.


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TaxMatters wrote:

- quote -

Others have made worthwhile suggestions, and many have seen
this scam for what it is; just that.

I hope, however, that you will post again and tell us the
outcome. I mean, this is a really interesting story.

ChEAr$,
Harlan Lunsford, EA n LA

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ElizabethMcBay[at]aol.com wrote:
- quote -

Call the "Secret Service"??????

Why? They don't have a dog in this fight.

ChEAr$,
Harlan Lunsford, EA n LA

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"TaxMatters" <TaxMattersLLC[at]msn.com> wrote:

- quote -

Since he's her fiance, the best advice would be for them to
marry before the gift is made.

Aside from that the only thing I can think of is $12,000
gifts each year for the next 600 or so years.

Stu

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"TaxMatters" <TaxMattersLLC[at]msn.com> writes:

- quote -

Assuming it's all above-board, there are no US tax
consequences to her. True gifts are not income, so no
income tax, and the US's gift/estate tax is imposed on the
giver, not the recipient. Whether or not the *UK* considers
this a taxable transaction for the giver (or the recipient)
I leave to others to determine :-).

- quote -

Any particular reason why?

- quote -

Why would he? If he's a UK citizen and is not a US green
card holder, I don't see why the US gets say anything about
him.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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TaxMatters wrote:

- quote -

This sounds like one hell of a scam where you are already out
$75,000 and are going to have your bank account cleaned out
instead of finding 15 million added to it.

Call the United States Secret Service and have your finance
come to the United States before the transfer takes effect.

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"TaxMatters" <TaxMattersLLC[at]msn.com> wrote:

- quote -

Cash, check, bank wire, etc. If you carry it with you, you
have to declare cash or cash equivalents of $10,000 or more
to Customs on entry. I don't know if there's Customs
reporting required for other methods, but her bank would
know.

- quote -

None for her. Taxes aren't income. There may be some sort
of transaction reporting to Treasury, but her bank can help
her with that.

None for him, assuming he's neither a citizen nor resident
of the US. If he's a US citizen he has to file a gift tax
return and, with that amount, he'll have to pay.

- quote -

What a silly idea. I can see no possible reason why it's a
good thing to try to make a perfectly legal transfer look
like someone's up to something.

Makes me wonder if someone's up to something.

--
Phil Marti
Clarksburg, MD

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TaxMatters wrote:

- quote -

Yes, tell her to run away fast and be glad she only lost
$75,000. For $75,000 I can stage a signing in my lawyers
office too. Besides the $75,000, how much does she have to
pay her fiance for this "transfer"? This reeks of scam.
Don't tell me she also wants to help some guy in Nigeria.

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TaxMatters wrote:

- quote -

I don't think that this would avoid trouble with UK taxes.
Gifts over about ten thousand pounds are subject to taxation
there, if I remember correctly.

If I were in your shoes, however, I would grill her for
details about this fiance, because the amount you've stated
sounds too much like a Nigerian 419 con game to me.

Moderator: My thoughts exactly.

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I have a client who claims her Fiance' who lives in the
United Kingdom, has recently inherited $15 million from a
relative and wants to have it transfered to U.S. in her name
to avoid taxes and complications in United Kingdom. Yes, I
am skeptical too as she has previously given him $75,000.00
in cash as a loan. According to her, she witnessed the
signing over of the inheritance to her at the lawyers office
in London.

Assuming this is not a scam.....what needs to be done to
have the inheritance transfered to her in the U.S. What are
the tax consequences? She has recently formed a sub S corp
to have the funds deposited to. The transfer is scheduled to
occur by the end of the month!

I have never had any experience regarding the Tax and or
Legal ramifications of such a large gift and am not sure how
to advise her. She has been a client for several years and I
do not want to lose a possibly very lucrative future client
but I dont want to advise her wrong. I realize he would be
subject to gift taxes but are there any legal ways to
minimize the taxes. Also what are the mechanics of the
tranfer?

Any suggestions?????????

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