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United States Taxation of Foreign Trusts

Charles M. Bruce

United States Taxation of Foreign Trusts

United States Taxation of Foreign Trusts

United States Taxation of Foreign Trusts

 

The US tax and reporting rules applicable to foreign trusts--principally embodied as Subchapter J of the Internal Revenue Code of 1986, as amended--are notoriously complex. Now, with this convenient and practical volume, anyone who must deal with these rules will find their use and meaning clearly explained, and proceed confidently to the best outcome in any situation where they apply.


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Beschrijving United States Taxation of Foreign Trusts

The US tax and reporting rules applicable to foreign trusts--principally embodied as Subchapter J of the Internal Revenue Code of 1986, as amended--are notoriously complex. Now, with this convenient and practical volume, anyone who must deal with these rules will find their use and meaning clearly explained, and proceed confidently to the best outcome in any situation where they apply.

United States Taxation of Foreign Trusts covers the following topics in detail:

  • Regular nongrantor (or accumulation) trusts of both the `simple' variety and the `complex' type with its challenging `throwback' rules and interest charge on accumulation distributions;
  • The circumstances under which certain foreign trusts;
  • The special rules formulated solely for foreign trusts such as section 672(f) (barring the application of the normal grantor trust rules to certain foreign trusts), section 643(h) (relating to distributions by certain foreign trusts through nominees), and section 643(i) (relating to loans from foreign trusts);
  • Reporting and penalty provisions and the accompanying IRS forms; and
  • Special issues, such as those surrounding incoming immigrants and outgoing expatriates.

    Numerous examples throughout the book clarify the valid procedures and alternatives available at every point, a feature especially valuable in applying provisions that still await settled regulation and case law. Compliance issues that may arise on IRS audit are also examined.

    Professionals and advisors in law, tax, accounting, banking, and securities; settlors and beneficiaries; and students and academics both within and outside the United States will benefit substantially from this highly informative and very useful volume.


  • ISBN
    9789041193827
    Pagina's
    400
    Verschenen
    NUR
    826
    Uitvoering
    Hardback
    Taal
    Engels
    Uitgever
    Kluwer Law International