Expatriation and the Exit Tax

Expatriation and the Exit Tax

Regular price $129.00

Due to onerous US tax reporting and filing obligations as well as other considerations, there are US citizens and long-term greencard holders who wish to relinquish their US citizenship and long-term residency in favor of other jurisdictions. For “Covered Expatriates” expatriation may result in adverse tax consequences. In this WealthCounsel CLE, Eli Akhavan will discuss who qualifies as a “ Covered Expatriate,” the tax consequences of expatriation for a Covered Expatriate (the “Exit Tax”) and planning opportunities to minimize the tax bite. Special attention will be given to how a Covered Expatriate’s trust and estate planning will affected.

Topics to be discussed include:

- Mechanics of relinquishing US citizenship or long-term residency

- How does a person become a Covered Expatriate for tax purposes under the three tests:

1. Average tax liability

2. Net worth

3. Certification of compliance

- Exceptions to the definition of a Covered Expatriate

- Exit Tax consequences of becoming a Covered Expatriate

1. Mark-to-Market

2. Specified tax deferred account

3. Deferred compensation

4. Interests in nongrantor trusts

- Estate and Gift Tax consequences under Section 2801 for Covered Expatriates

- Planning strategies prior to expatriation

Presented by: K. Eli Akhavan, JD

CLE: 1.0 general credit

Approved States: AR, CA, CO, GA, IL, NJ, NV, NY, OK, PA, TN, UT, VT

(AK, AZ, CT, MO, ND, NH, TX eligible to claim credit)

We will supply you with the information needed to self-apply in other states.

Contact shopcle@wealthcounsel.com for CLE assistance. 

WealthCounsel members: This CLE eligible program is complimentary for WealthCounsel members.  Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.

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