Oil deals abroad... Can the government tax us on money we earned in Africa?

[Shane10]

I'm going to try to put this in a nutshell.

My name is shane I am 24.

My partner and I negotiated an american drillers contract for a nigerian oil block owner. And we are going to be paid handsomely by both sides of the contract for our services as the introductory persons as well as intermediaries. I was wondering if the government can tax us on money we earned in Africa and if so we have another deal in Indonesia so I suggested we file for a limited partnership in Delaware or Nevada and carry on with our address in Texas . I would be the GP and him as the LP since I find the opportunities and decide what we intermediate in. And I needed advice because we are breaking the bank just to go to africa to sign these agreements. I figured we should wait until we get our check then meet with lawyers and accountants to get set up but I was confused as to whether the check would be invalid if it was written to a company that wasn't set up yet. I need advice ASAP. Thank You.

[AFFA]

I wish to inform you that IRS taxes worldwide income of American resident. If you earn money in Africa then that income will be added to your income. If you are dealing through Limited Liability Partnership or company then that Limited Liability Partnership or company will be taxed in USA f it is incorporated in USA. If you make a Delaware Corporation then also there will be US Tax liability unless it is not specifically exempt under Section 1902(b), Title 30, Delaware Code.

AFF

[jazz90]

The IRS taxes all the income from international ventures of Americans but there are certain privileges such as Double Tax Treaty will help deduction to be equitable and minimize the double payments. Every national and international income earned is taxable and it is the liability and responsibility of every American.