The Resource Proposed regulations taxing expatriates' gifts to U.S. citizens or residents

Proposed regulations taxing expatriates' gifts to U.S. citizens or residents

Label
Proposed regulations taxing expatriates' gifts to U.S. citizens or residents
Title
Proposed regulations taxing expatriates' gifts to U.S. citizens or residents
Creator
Subject
Language
eng
Summary
The IRS has released the long awaited Section 2801 proposed regulations relating to gifts from expatriates to U.S. citizens or residents. This article provides an overview of the proposed regulations and highlights some of the practical issues for taxpayers who are affected by Section 2801. The proposed regulations are divided into seven sections, in addition to some administrative regulations: (1) general rules of liability for the Section 2801 tax; (2) definitions of key terms; (3) rules and exceptions applicable to the definitions of "covered gift" and "covered bequest"; (4) liability and computation of the Section 2801 tax; (5) treatment of foreign trusts under Section 2801; (6) special rules and cross-references; and (7) determining responsibility for the Section 2801 tax. The administrative regulations address filing and payment due dates as well as returns, extension requests, and recordkeeping matters relating to Section 2801
Citation source
In: Practical tax strategies. - Hoboken. - Vol. 96 (2016), no. 2 ; p. 52-62
http://library.link/vocab/creatorName
  • Georgiev, L
  • Yates, M-T
  • Wioncek, J.J
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • expatriate
  • trust
  • gift tax
  • citizenship
  • residence
Label
Proposed regulations taxing expatriates' gifts to U.S. citizens or residents
Instantiates
Publication
Label
Proposed regulations taxing expatriates' gifts to U.S. citizens or residents
Publication

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.37366609999999 4.9336932
Processing Feedback ...