Tax Expatriation of People and Assets

Available Anytime
Location: Online
1Credits
Technical Business
Registration is Open
FICPA Members
$39.00 Regular Price
Nonmembers
$54.00 Regular Price
Product Code: FI21-148
Level: Update
Vendor: Florida Institute of CPAs
Field of Study: Taxes

Overview:

After viewing this presentation, participants will have learned about expatriation from the U.S.which is the movement of citizens, long term residents, and assets out of the U.S. You will learn about expatriation tax; residency start and termination dates for non-resident aliens; the "exit tax" under §877A; taxes for trusts - both domestic and foreign; potential planning strategies for mitigating “Inheritance Tax” under §2801 and more.

 

Objectives:

After viewing this presentation, participants will hear about the tax expatriation which is the movement of U.S. Citizens, long term residents, and assets out of the United States. What are the red flags, how to address them, and how to fund foreign trusts.This session will address the following:

  • Expatriation from the United States
  • Introduction to Expatriation Tax
  • Determining Residency Start Date for Non-Resident Aliens
  • Determining Residency Termination Date for Non-Resident Aliens
  • Determining Expatriation Date
  • Section 877
  • The “Exit Tax” under §877A – Effective after June 17, 2008
  • Inheritance Tax
  • Logic of §2801 Tax Regime
  • Definitions under §2801
  • Exceptions to §2801 Tax
  • Liability for §2801 Inheritance Tax
  • Computation of §2801 Inheritance Tax
  • Potential Planning Strategies for Mitigating “Inheritance Tax” under §2801
  • Overview of Wealth Transfer Taxes
  • U.S. Transfer Taxes for Trusts
  • U.S. Income Taxes - Domestic Trusts
  • U.S. Income Taxes - Foreign Trusts
  • Deemed Sale Upon Funding

 

Major Topics:

  • Expatriation from the United States
  • Introduction to Expatriation Tax
  • Determining Residency Start Date for Non-Resident Aliens
  • Determining Residency Termination Date for Non-Resident Aliens
  • Determining Expatriation Date
  • Section 877
  • The “Exit Tax” under §877A – Effective after June 17, 2008
  • Inheritance Tax
  • Logic of §2801 Tax Regime
  • Definitions under §2801
  • Exceptions to §2801 Tax
  • Liability for §2801 Inheritance Tax
  • Computation of §2801 Inheritance Tax
  • Potential Planning Strategies for Mitigating “Inheritance Tax” under §2801
  • Overview of Wealth Transfer Taxes
  • U.S. Transfer Taxes for Trusts
  • U.S. Income Taxes - Domestic Trusts
  • U.S. Income Taxes - Foreign Trusts
  • Deemed Sale Upon Funding

 

Designed For:

CPAs or Accounting, and Tax Professionals



Prerequisite:

Some familiarity with accounting and taxes.

Additional Info:

Thank you for registering for the "Tax Expatriation of People and Assets" OnDemand course. You can begin immediately by going to the 24/7 Learning Library portal at https://ficpa.courselaunch.io and logging in with your current FICPA member login credentials.

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