News & Analysis as of

Non-Resident Aliens

Update to Guide on U.S. Taxation of Nonresident Aliens

by Charles (Chuck) Rubin on

I first wrote a simplified guide to U.S. taxation of nonresident aliens before the Internet and emails. The first few editions were printed and mailed out to persons on our firm's mailing list. Eventually, I circulated it by...more

Properly structured foreign gifts of real property property can be estate and gift tax free

by Sanford Millar on

The investment in U.S. real property by Non-residents can be structured to minimize estate and gift taxes. The key is to structure the investment through a limited liability company, limited partnership or corporation so...more

U.S. Citizens Retiring Abroad: “Tax Trigger” Situations and Related Disclosure Forms

The following is a bolded checklist of important situations that may “trigger” a tax review by a skilled United States tax professional. Many of these situations also require a simultaneous review by a foreign tax...more

FinCEN Proposal Extends AML Requirements to Banks Without a Federal Functional Regulator - Proposed Rule Would Include Trust...

by Holland & Knight LLP on

The Financial Crimes Enforcement Network (FinCEN) on Aug. 25, 2016, issued a notice of proposed rulemaking (Proposed Rule) to implement Section 326 of the Uniting and Strengthening America by Providing Appropriate Tools...more

Annual Estate Planning Newsletter: Part Five

by Blank Rome LLP on

Action Item: This is the fifth installment of our Annual Estate Planning Newsletter, and focuses on foreign matters. We urge you to review this installment to ensure that your 2016 estate and tax planning is in...more

FIRPTA Withholding Rate Bumped Up To 15%

by Charles (Chuck) Rubin on

The Protecting Americans from Tax Hikes Act of 2015 was recently signed into law. Section 324 of the Act modifies Code Section 1445 to increase the required withholding amount on dispositions by nonresident aliens and foreign...more

Cross-Border Investigations Update - November 2015

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases and enforcement trends, including developments in U.S. Foreign Corrupt Practices Act enforcement; the introduction of...more

Mainbrace: October 2015, No. 4

by Blank Rome LLP on

As with the world economy, the shipping markets are currently experiencing a major bout of volatility. The wide range of matters we are handling in our maritime law practice certainly reflects the current swings the shipping...more

Tax-Savvy Planning for Foreign Business Owners Seeking Temporary U.S. Residence: Alternatives to the EB-5 Visa

by Gerald Nowotny on

The EB-5 Visa program has been widely promoted as a legal basis for foreign business owners to gain conditional residency followed by permanent residency in the United States. The program is a great solution to the...more

The “Reed Amendment” and Admissibility to the United States: Will I Be Barred From Reentry After Renunciation?

by Hodgson Russ LLP on

A common concern about renunciation of U.S. citizenship is that of admissibility to the United States thereafter. Many people tell me that they have read about a permanent ban on reentry to the United States following...more

No FCPA Accomplice Liability for Non-resident Foreign Nationals if No Agency

by Morgan Lewis on

Court rules that the US Department of Justice cannot expand the FCPA’s reach simply by charging non-resident foreign nationals with conspiracy....more

Immigration and Taxation: Tools for Navigating Through Alien Territory

A client recently asked if a foreign national employee was subject to federal withholding taxes. Naturally, since the question involved the U.S. tax code the answer, like the code, is complicated. Fortunately, the IRS has...more

New York Limits Interest Rates on Loans to New York-based Military Personnel

by Locke Lord LLP on

Since 2005, banks have continued to provide certain military service members with loans that require payment of interest far beyond the 16% New York state cap under what has become known as the “Fort Drum Loophole.” The...more

Income tax consequences of US visas

by Dentons on

Newcomers to the United States on temporary visas may be unpleasantly surprised at the income tax consequences. A little advance planning with tax and immigration professionals can go a long way towards mitigating income...more

IRS Makes Permanent Late Filing Relief for “One-Participant” and Certain Foreign Retirement Plans

by Franczek Radelet P.C. on

The IRS issued guidance making permanent a program providing relief to certain retirement plans from penalties associated with late filings of Form 5500s. The IRS had previously made the program available on a temporary basis...more

Estate Planning for Non-U.S. Citizens

In This Presentation: - Basic Rules - Determination of Residency for Estate Tax purposes - Tax Rules - Estate and Gift Tax Treaties - Asset Situs Rules - Taxation of Life Insurance...more

A Guide to the UK Disguised Investment Management Fee Rules

New rules effective from today in the U.K. are likely to have material impact on the tax treatment of payments by a fund to its U.K.-based management executives and service providers. The rules cover many areas of fund...more

Beyond U.S. Citizens and Lawful Permanent Residents: Are Other Classes of Individuals Legally Authorized to Work Protected from...

In a novel case, a New York federal court judge recently denied an employer’s motion to dismiss a Section 1981 alienage discrimination class action lawsuit. The lawsuit alleges that Northwestern Mutual Life Insurance Company...more

Employers: 2015 deadlines approach to furnish incentive stock option and employee stock purchase plan information statements and...

by DLA Piper on

Section 6039 of the Internal Revenue Code requires a corporation to furnish a written statement to any employee or former employee who either (i) exercised an incentive stock option within the meaning of Section 422 of the...more

Residency and “Illegal Alien Status” Are Not Mutually Exclusive for School Accommodations: A Friendly Reminder From Washington...

by Pullman & Comley, LLC on

It is worth remembering that when determining if someone is a resident of your school district, the fact that someone may not actually be a legal resident of this nation is irrelevant. In order to underscore this fact, the...more

Reporting Foreign Account Gifts

by Sanford Millar on

One of the areas of inquiry that is certain to receive increased attention by the IRS and Department of Justice (DOJ) is the claim that the funds in offshore accounts were the result of a “gift”. The proper documentation of...more

California Employment Law Notes - July 2014

by Proskauer Rose LLP on

"Unauthorized Alien" Who Provided False SSN Can Proceed With Disability Discrimination Lawsuit - Salas v. Sierra Chem. Co., 2014 WL 2883878 (Cal. S. Ct. 2014) Vicente Salas worked on Sierra Chemical's production...more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

In recent weeks, Governor LePage and the Department of Health and Human Services have disagreed with Attorney General Janet Mills regarding the Administration’s ability to influence whether municipalities distribute General...more

Nonresident Alien Who Was Previously a U.S. Resident Indicted for Tax Crimes

by Holland & Knight LLP on

On March 20, 2014, a federal grand jury in Kansas City, Missouri indicted Victor Lipukhin for tax crimes that occurred from 2002-2007. What makes this indictment stand out when compared against many others is that the...more

Failed Challenge To Interest Reporting Regulations

by Charles (Chuck) Rubin on

In 2012, regulations were issued that require banks to report interest paid on deposits of nonresident alien individuals who reside in countries with an exchange of information agreement with the U.S. (even though such bank...more

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