Swiss Annuities Still Recommended
Do you still recommend Swiss annuities? Do we have to report them to the Internal Revenue Service beginning June 30, 2012? An IRS tax consultant I talked to said I do. The IRS tax consultant also said I owe an excise tax on the Swiss annuity. If this is correct, do you have any information on how to figure that or know someone who does?
Dear John Hansen,
Yes, I still recommend Swiss annuities. There is no excise tax required to be paid. Congress tried to have that inserted in the bill, but it was removed. The IRS requires the reporting, but the annuity company is not required to disclose it.
Bob Livingston is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.
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