Tag Archives: US estate tax
US Estate Tax Concerns for Non-US Persons Update
USTAXFS Tax Director, Patrick Hoza, provides the latest on US Estate Tax concerns for non-US persons. The United States imposes its Estate Tax not only on its citizens and residents but also on non-residents that die owning US situs assets. So, what might be taxable? Non-resident aliens (NRAs) are taxed on certain categories of US […]
Non-Domiciled Alien Estate Taxes in the US: US assets
Many people have assets in the US, but if you are not a US citizen or tax resident (domiciled) of the United States you will want to understand how your US assets will be taxed once you pass away. Under the current law, “non-domiciled aliens” who own or have an interest in US situated assets […]
5 Ways Uncle Sam Can Still Reach Non-Resident Aliens
So, you feel lucky that you are not an American citizen, with the tax headaches that a citizenship-based system bestows upon the not so lucky US expatriate. Not so fast. Even though you are not an American, you may not be safe from Uncle Sam’s long tax arms. Below are five instances where he could still […]
Be Careful What You Wish For – US Estate Tax Reform
A variety of tax reform proposals are currently being considered by Congress and the Trump administration, one of which is the repeal of the US Estate Tax. With a life-time exclusion amount of currently $5.5 million, a married couple (both of whom are US citizens) can pass almost $11 million to their family and friends […]
Are there US Estate Tax Concerns for Non-US Persons?
Please note updates were made to the information in this post in March 2020. The United States imposes its Estate Tax not only on its citizens and residents but also on non-residents that die owning US situs assets. So, what might be taxable? Non-resident aliens (NRAs) are taxed on certain categories of US situs assets. The following […]
Will the US eliminate Estate Tax?
On April 16th the House of Representatives passed a bill (the Death Tax Repeal Act of 2015) to eliminate the Estate Tax and the Generation Skipping Tax. But don’t hold your breath – it is not clear if or when it will be considered by the Senate, where it does not appear as if there […]