Tax Talk Tuesdays: International Tax Traps for the Unwary

Join us for the Massachusetts Bar Association’s Taxation Law Section Council’s Tax Talk Tuesday luncheon series, where tax law attorneys gather to discuss the latest trends, developments and insights in the world of taxation. This series will feature multiple in-depth programs designed to provide valuable updates and expert perspectives on key topics shaping the tax landscape. Don't miss this opportunity to connect with fellow professionals, stay informed on crucial tax issues, and gain insights that will enhance your expertise and practice.

International tax issues can present significant risks but can be avoided with proper counseling by attorneys. This program is designed to equip attorneys with the knowledge to spot and address major international tax traps. Topics will include:

• How foreign tax laws may apply unexpectedly to U.S. persons who purchase property abroad, work overseas or spend extended time in a foreign jurisdiction;
• Complex U.S. information reporting obligations for foreign assets and entities (including FBARs, Form 5471 and related filings), which carry substantial penalties for noncompliance;
• The lack of a full marital deduction for gifts and bequests to noncitizen spouses, a critical consideration in international estate and tax planning; and
• Important tax considerations for foreign investors in the United States, including how investments in U.S. real estate and businesses can trigger income and estate tax obligations, and how careful structuring, particularly in light of rules like FIRPTA and effectively connected income, can help minimize these exposures and avoid unintended consequences.

Through practical examples and legal insights, attendees will gain the tools to proactively counsel clients and minimize their exposure to cross-border tax pitfalls.

This webinar will be held using Zoom. Registration is required by 4 p.m. on Monday, September 8th, in order to participate in this program. An email from MassBar Education will be sent before the program.