However, there are a number of reason's that American citizens ( and perhaps even you) want to maintain an off shore account or already do. Tax evasion should not be one of them becasue American citizens are taxed on all earnings thorughout the world.
However, powerful asset protection, convenience, investmet diversification and other reasons do exist.
This article examines some of those strategies with an interesting theory that the government's media circus on this issue is designed to deter law abiding Americans from utilizing this asset protection technique.
To read more about the legal and strategic reasons for an asset protection plan and an off shore account, click here.