Has Santa Claus ever filed a gift tax return with the IRS? He might need to if he goes global!
If you live outside the United States, you may think that the U.S. gift tax is the least of your concerns. But various cross-border transactions may result in adverse U.S. gift tax consequences and burdensome filing and reporting obligations. It is important to understand the applicable rules, requirements and thresholds to ensure that you or your clients are not faced with a massive tax burden because of potential non-compliance.
Here’s just a sample of what we will cover during this webinar:
- An Overview of the U.S. gift tax framework;
- Review of key gift tax thresholds for U.S. residents and nonresident alien individuals making and receiving gifts;
- Applicable exemptions from U.S. gift tax;
- Special rules for married couples;
- The connection between gift tax and estate tax;
- How can one make a gift without being subject to U.S. tax filing requirements;
- U.S. gift tax compliance and reporting requirements;
- Typical filing issues;
- Penalties for non-compliance;
- Practical tips and considerations;
- ….. and More!
To learn more, please register and gain the insights you need to open the dialogue that will protect you and your clients by preventing them from making costly and sometimes irreversible mistakes. We hope you join us!
U.S. TAX IQ Team