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International Trade Wills, Trusts, & Estate Planning Tax

Read need-to-know updates, commentary, and analysis on International Trade issues written by leading professionals.

Estate Planning Pitfall - You’re retiring to a foreign country

If plans call to relocate to another country after retirement, be aware that they may be tarnished if a person doesn’t look into all potential estate tax and income tax implications first. This brief article explores three...more

Senate Passes Tax Reform Bill

by Dechert LLP on

The U.S. Senate passed its version of the GOP tax reform bill, the Tax Cuts and Jobs Act (the “Senate Bill”), on Saturday, December 2, 2017. Shortly before approving the Senate Bill, the U.S. Senate adopted a Manager’s...more

Insight on Estate Planning - Year End 2017

In This Issue: - When should you turn down an inheritance? - Addressing intellectual property requires careful estate planning - Year end is an ideal time to review your estate plan - Estate planning pitfall: You’re...more

Estate Planning Under the Tax Cuts and Jobs Act

If enacted, the Tax Cuts and Jobs Act could open up significant estate planning opportunities. The House bill doubles the exemptions from estate, gift and generation-skipping transfer taxes, creating new opportunities for...more

How To Manage Foreign Trusts With U.S. Beneficiaries

by Carlton Fields on

Do you or did you have a wealthy relative from a different country? Did that relative make you a beneficiary of a non-U.S. trust? Lucky you. But beware that free wealth....more

House Passes Tax Cuts and Jobs Act: How the Senate Proposal Compares

by Shearman & Sterling LLP on

On November 2, 2017, the House Ways and Means Committee (the “House Committee”) released its plan for comprehensive tax reform: the “Tax Cuts and Jobs Act of 2017” (H.R. 1) (the “House Bill”). Following a week of hearings,...more

Do You Have a Foreign Trust?

The answer in the litigation context may not be black and white because it requires a careful, analytical walk through the applicable sections of the Internal Revenue Code, the appropriate regulations and the nonexclusive...more

Treasury Dept. Identifies 8 "Significant Tax Regulations" for Review to Reduce Burden

by Holland & Knight LLP on

The U.S. Department of the Treasury announced on July 7, 2017, in Notice 2017-38 (the Notice) that it has identified as "significant tax regulations" eight sets of U.S. federal tax regulations that were issued between Jan. 1,...more

Tackling Tax Reform – Part IV: What Can We Expect To See

by Garvey Schubert Barer on

On April 11, 2017, we discussed what constitutes Tax Reform. On April 24, 2017, we explored the process by which Tax Reform will likely be created by lawmakers. In our May 3, 2017 blog post, we focused on the likely timing...more

Update on Domicile and Tax of Offshore Trusts

by McDermott Will & Emery on

Implementation of the 6 April 2017 tax changes applicable to non-domiciled individuals, offshore trusts and UK residential property has been delayed because of the forthcoming UK General Election on 8 June 2017. Whilst it is...more

QDOT-ting I's and Crossing T's: Estate Tax Planning for Non-United States Citizen Spouses

by Ward and Smith, P.A. on

Individual and corporate citizens from countries around the world have moved to North Carolina and contributed materially to our state's economic, educational, and cultural growth. Foreign direct investment ("FDI") in North...more

Kyiv Tax Newsletter (Ukrainian)

by Dentons on

On 23 March 2017, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine Concerning the Taxation of Inheritance” (hereinafter – the Law on inheritance tax), which simplifies the...more

Kyiv Tax Newsletter - April 2017

by Dentons on

On 23 March 2017, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine Concerning the Taxation of Inheritance” (hereinafter – the Law on inheritance tax), which simplifies the...more

Reporting Foreign Income: Four Common Misconceptions

by Moskowitz LLP on

The U.S. government has stringent reporting requirements when it comes to foreign assets and income, but many people are still not coming into compliance based on some mistaken beliefs. Here are four common misconceptions...more

When the Wall of Secrecy Collapses

by Foodman CPAs & Advisors on

Foreign Accounts, Shell Companies, Blind Trusts, Asset Protection Trusts, Offshore Trusts, Global Citizenship and US Residency are just a few of the Terms highlighted in the mega divorce proceedings of a Palm Beach County...more

Final Response to Non-Dom Consultation Published - Update

by McDermott Will & Emery on

The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with draft legislation that will take effect from 6 April 2017. As well as...more

Surcharge tax hits discretionary trusts

by Dentons on

The Office of State Revenue (OSR) has released a ruling on 22 December 2016 in relation to the definition a ‘foreign person’. This is important if you hold an investment property in a discretionary trust....more

Trump Administration's Tax Reform Likely

by Hodgson Russ LLP on

Donald J. Trump defied the polls and much of the national media to win the US presidential election on November 8, 2016. President-elect Trump will be sworn in and will take office as the 45th president of the United States...more

Tax Truths: Volume 1, No. 2 – December 2016

by Ballard Spahr LLP on

AN ANALYSIS OF TAX LAW PROPOSALS OF THE PRESIDENT-ELECT AND THE HOUSE - President-elect Trump made tax reform a highlight of his campaign, calling for fewer tax brackets, lower individual rates, and reduced corporate tax...more

2016 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Proposed Regs May Limit US Estate Plan

by Hodgson Russ LLP on

On August 2, 2016, the US Treasury issued long-awaited pro- posed regulations under Code section 2704 that make comprehensive and very significant changes to the valuation of interests in many family-controlled entities for...more

[Webinar] U.S. Tax and Estate Planning for Foreign Persons - Meritas Capability Webinar - September 27th - 1:00p.m. U.S. CDT

Many successful people come to the United States from other countries, either permanently or on study or work assignments that are intended to last just for a few years. These people may earn income in the United States and...more

The Hidden Cost Of “Going Home” — the Expatriation Tax for Long-Term Permanent Residents Who Return to Their Home Countries

by Garvey Schubert Barer on

People immigrate to the United States for many different reasons. Many come here for work reasons and, somewhere along the way, obtain permanent resident status, otherwise known as holding a “green card.” They may work in the...more

"FIRPTA Reform Impacts Investment Opportunities in US Real Estate"

In recent months, much has been written to describe the reforms to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) contained in the Protecting Americans From Tax Hikes Act of 2015 (the Act), which have been...more

Foreign Financial Asset Reporting - Coming Soon to a Domestic Entity Near You

by Charles (Chuck) Rubin on

When Form 8938 reporting for foreign financial assets of U.S. taxpayers was first imposed a few years, only U.S. individuals were subject to it. The IRS has now issued final regulations that will commence reporting by...more

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