Tax Law News and Insights

United States citizens and residents are often not aware of the myriad of foreign information return filing obligations that exist under federal tax laws. For example, buried within the Code are reporting obligations associated with the receipt of a foreign gift and participation and ownership in foreign trusts. The failure...

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The federal gift, estate, and generation-skipping transfer (GST) tax exemptions and the annual exclusion from gift tax are historically high, due to a temporary increase under the Tax Cuts and Jobs Act. However, absent the passage of further legislation, the regulations that elevated the exemptions are set to expire at...

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"Will San Francisco survive?" asked the Salt Lake Tribune. It was 1906 and the city had been largely destroyed by a major earthquake and subsequent fire. Over a century later, plenty of people are asking the same question about the city, and indeed the wider state of California. The naysayers...

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