Tax Expatriation of People and Assets
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:
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