Who's Who and How They're Taxed

To appreciate how harsh HEART (Heroes Earning Assistance and Relief Tax Act) can be for expatriates and their beneficiaries, we first must truly understand the application of federal estate and gift tax rules for U.S. citizens, U.S. residents, and U.S. non-resident aliens (NRA). A resident, for federal estate tax (FET) purposes, is an individual who is domiciled in the United States, that is to say,

To appreciate how harsh HEART (Heroes Earning Assistance and Relief Tax Act) can be for expatriates and their beneficiaries, we first must truly understand the application of federal estate and gift tax rules for U.S. citizens, U.S. residents, and U.S. non-resident aliens (NRA).

A resident, for federal estate tax (FET) purposes, is an individual who is domiciled in the United States, that is to say, someone who is “living in a particular location, for even a brief period of time, with

All access premium subscription

Your subscription will include 12 months of Trusts & Estates magazine and access to premium content on WealthManagement.com.

TAGS: Archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish