Part Time Lovers- International Tax Attorneys and the Estate and Gift Tax
By Anthony Diosdi International taxation from the U.S. federal tax perspective is traditionally divided into two primary topics, inbound foreign investment by nonresident aliens and foreign entities, and outbound investment by U.S. persons and corporations. In the individual foreign investor setting, inbound planning often requires a balancing of U.S. income tax considerations on one hand and U.S. federal estate and gift tax considerations on the other. As a result, for many foreign direct investors, the most important tax consideration is the U.S. federal estate tax and gift taxation. The federal estate and gift tax ranges from 18 percent to 40 percent of a U.S. estate. See IRC Section 2001(c). A non-U.S. resident’s gross estate is composed of U.S. situs property at either the time of the transfer or the time…