12.02.2018 Estate Tax: Effect of the Tax Cut and Jobs Act on German Domiciliaries

On December 22, 2017, Public Law 115‑97 ("Tax Cuts and Jobs Act") was enacted. Sec. 11061 of the Act more than doubles the estate and gift tax exemption amount for decedents dying or... mehr

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German Inheritance Tax - Update 2017

The General Tax free allowance

The general tax allowance depends on the familial relationship between deceased and beneficiary. In case of unlimited tax liability - the following tax free... mehr

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Estate, Gift and Generation Skipping Transfers Tax Exemptions 2017 Update

Federal Estate Tax

The estate tax exclusion for 2017 has been raised from

$5.45 million for individuals and $10.9 million for married couples in 2016to $5.49 million for individuals and $10.98... mehr

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13.07.2016 U.S. Tax Court: German Who Gave Up U.S. Residency Liable for Exit Tax

The case involved a German national, Mr. Topsnik. Mr. Topsnik was born in Germany and moved to the U.S. obtaining a green card and residency status in 1977.  Mr. Topsnik started a business with... mehr

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13.07.2016 New Regulations Change Withholding Requirements for Dispositions of U.S. Real Property

The IRS has issued regulations pursuant to the Protecting Americans from Tax Hikes Act (“PATH”) that make changes to the income tax withholding requirements for nonresident aliens when U.S. situs... mehr

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11.02.2014 Michael Jackson and US-Federal Estate Tax

The increase in the estate tax threshold to $5.25 million has significantly decreased the estates captured by the U.S. estate tax. The IRS reported that in 2012 at which time the estate tax threshold... mehr

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06.01.2014 German Inheritance Tax: Tax rates 2014

According to § 19 (1) of the German inheritance tax act the tax rates of the German inheritance tax are as follows for death in 2014:

Taxable acquisition (§ 10)up to… EuroTax rate in every tax... mehr

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18.10.2013 ECJ Rules that the German Inheritance Tax Act Violates European Law

This summer we reported on the Advocate General’s opinion on the matter Yvon Welte v. Finanzamt Velbert. The matter concerns the question as to whether Articles 56 [EC] and 58 [EC] should be... mehr

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18.07.2013 Does the German inheritance tax act violate European Law?

On June 12, 2013, Advocate General Mengozzi delivered his opinion on the matter Yvon Welte v. Finanzamt Velbert (Case C-181/12). The case concerned the estate of a Swiss national and resident... mehr

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22.04.2013 British Columbia: Wills, Estates and Succession Act will come into force March 31, 2014

New probate rules and the Wills, Estates and Succession Act (WESA) will come into force officially on March 31, 2014. mehr

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