U.S. Tax Treatment of Gifts and Inheritances From Nonresidents
Recording of a 90-minute CLE/CPE video webinar with Q&A
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.
Outline
- Domicile for estate and gift tax purposes
- Estate, gift, and generation-skipping transfer tax rules applicable to NRAs
- Pitfalls to avoid for NRA gifts under U.S. tax law
- Potential opportunities
- Gifts/bequests by nonresident aliens
- Dynasty trusts
- Reporting issues for U.S. recipients
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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
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
Mr. Acharya provides tax and accounting services, specializing in international tax and business issues for nearly 3 decades. He advises his clients on cross border tax matters, providing services to multinational clients engaged in US inbound or outbound activities. His services include planning, structuring, consulting, compliance and transfer pricing issues. He has worked extensively in the area of IRS overseas voluntary disclosure initiatives and helped clients comply with international tax requirements. He has a wealth of experience in cross border tax planning and compliance issues related to outbound and inbound US businesses as well as non-resident and expatriate individuals.
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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
Mr. Raby's practice focuses on international tax matters, including planning for foreign investment into the United States, planning for United States persons investing and undertaking businesses outside the United States, ownership of foreign real estate by United States persons (FIRPTA), and ensuring that all United States reporting requirements are met, including FATCA, FBARs, and various IRS information returns. He also includes advising start-up companies and tax litigation matters, both international and domestic.
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