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U.S. Tax Treatment of Gifts and Inheritances From Nonresidents

A live 90-minute CLE/CPE video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Monday, April 29, 2024

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE/CPE course will provide estate planners and tax professionals guidance on navigating the tax rules applicable to gifts from nonresidents and offer planning techniques to minimize adverse tax consequences and reporting mishaps. The panel will focus on (1) the tax aspects of gifts of U.S. assets by nonresident aliens, and (2) U.S. estate tax consequences of a nonresident alien dying with U.S. assets in his portfolio. The panel also will outline and analyze hypothetical gift and estate planning scenarios and offer effective planning techniques for estate planners and tax counsel.

Description

Nonresident aliens who own property in the U.S. are subject to various U.S. estate and gift tax rules. Trusts and estates counsel must have a clear understanding of those rules' potential tax implications for nonresident gifts and devisees, so counsel can implement appropriate planning methods to avoid unintended tax consequences.

Generally, nonresident donors or their estates are taxed only on the value of their U.S. situs assets, including real and tangible personal property, business assets, and stock of U.S. corporations. As for gift taxes, nonresidents are subject to U.S. gift tax only on transfers of tangible personal and real property located in the U.S. and real property located in the U.S.

Listen as our panel discusses issues for trusts and estates counsel for gifts of U.S. assets by nonresident aliens, focusing on relevant tax rules and potential estate planning pitfalls and opportunities. The panel will also outline and analyze hypothetical estate planning scenarios and offer effective planning techniques for counsel.

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Outline

  1. Domicile for estate and gift tax purposes
  2. Estate, gift, and generation-skipping transfer tax rules applicable to NRAs
  3. Pitfalls to avoid for NRA gifts under U.S. tax law
  4. Potential opportunities
    1. Gifts/bequests by nonresident aliens
    2. Dynasty trusts
    3. Reporting issues for U.S. recipients
  5. Best practices for estate planners and tax counsel

Benefits

The panel will review these and other key issues:

  • What are the key considerations in determining domicile for estate and gift tax purposes?
  • What estate, gift, and generation-skipping transfer tax rules apply to nonresident aliens?
  • What gift and bequest opportunities are available from nonresident aliens to U.S. citizens?
  • What reporting issues should counsel be cognizant of when U.S. persons receive gifts and bequests from nonresident aliens?

Faculty

Acharya, Pallav
Pallav Acharya, CPA, FCA, CGMA

Founder and Owner
CPA Global Tax & Accounting

Mr. Acharya provides tax and accounting services, specializing in international tax and business issues for nearly 3...  |  Read More

Raby, Burgess
Burgess Raby

Principal
Raby Law Office

Mr. Raby's practice focuses on international tax matters, including planning for foreign investment into the United...  |  Read More

Attend on April 29

See NASBA details.

Cannot Attend April 29?

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

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