U.S. Estate and Gift Taxation of Resident Aliens and Nonresident Aliens — 2010–2012
An overview of questions that must be addressed by non-U.S. citizens
Non-U.S. citizens, both resident and nonresident aliens, may be subject to U.S. estate and gift taxes. Whether in the United States indefinitely, for a long-term stay, or short-term assignment, the death of a non-U.S. citizen may have adverse U.S. estate tax consequences. Likewise, lifetime transfers by non-U.S. citizens may be subject to U.S. gift tax. This publication will provide an overview of the questions that must be addressed by non-U.S. citizens who live, work, or own property in the United States.
In this new article, we address some of the questions about U.S. estate and gift taxes that non-U.S. citizens, both resident and nonresident aliens, may face. The article discusses:
- What are the tax implications of having a green card or surrendering your green card?
- What are the factors used to determine an individual’s domicile for U.S. estate and gift tax purposes?
- Which of your assets will be taxed in the United States upon your death, are there any credits or deductions available?
- What transfers are subject to gift tax, are there any exemptions or credits?
- What transfers are subject to the Generation-Skipping Transfer tax, are there any exemptions?
This publication reflects the current U.S. Estate and Gift tax rules, which are presently scheduled to expire after December 31, 2012. If there is no intervening legislative change, as of January 1, 2013, the rules will revert to pre-2001 rules, which are not outlined in this publication.
Download the full article attached below.