EVENT DESCRIPTION
Individuals with international holdings and activities most often pay primary focus to income tax consequences of their cross-border activities; this approach risks enormous transfer tax consequences, particularly for nonresidents with United States holdings. Noncitizen, nondomiciled individuals directly owning United States–situated assets face massive statutory exposure to United States transfer taxes, with minimal exclusion amounts ($60,000 for estate tax purposes) and tax rates quickly reaching 40%.
This program will cover the classification of individuals for transfer tax purposes and the scope of assets to which United States transfer taxes are applicable. The program will then discuss tax assessment, categories of exempt assets, and estate and gift tax treaty interplay with statutory rules.
Topics Covered
Classifying individuals for transfer tax purposes
When transfer taxes are applicable
Tax assessment
Categories of exempt assets
Estate and gift tax treaty interplay with statutory rules
EVENT OBJECTIVE
Learning Objectives
Recognize how individuals are classified for United States estate and gift tax purposes
Identify estate and gift tax exposures for noncitizen nondomiciled individuals
Analyze the impact of estate and gift tax treaties on estate and gift tax exposures
Define United States rules for foreign trusts
Understand functional complexities arising for United States-based taxpayers with foreign holdings
EVENT DETAILS
Company:
CCH
Number of Hours:
2 (Recommended)
Prerequisite:
Basic understanding of international taxation
Program Level:
Update
Knowledge Level:
Intermediate
Delivery Method:
Group Internet Based
Number Of Days:
Food Included:
Seminar Number:
Early Cut Off Date:
01/01/1970
Phone:
Venue:
,
Accommodations:
,
Recommended For:
CPA (2), EA (2)
Approved By:
NASBA, IRS