BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Preparer

Date & Time
  • event Date

    Thursday, April 4, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$197.00
CPE
ALL

This webinar will review the tax implications and key considerations for taxpayers considering dual or citizenship in a country outside the United States by lineage. Our panel of international tax experts will explain common steps to claim citizenship by ancestry and claiming lineage citizenship in specific countries for taxpayers considering a move and for their international income tax advisers.

Faculty

Melvin A. Warshaw
Attorney
Melvin A. Warshaw

Mr. Warshaw has nearly 40 years of experience as a U. S. estate planning and tax lawyer. He currently represents U. S. and non-U. S. high net worth individuals, families and companies on a wide range of personal and business tax matters, especially in connection with cross-border income and estate tax planning and compliance in the U. S. Mr. Warshaw is admitted to practice in the Commonwealth of Massachusetts. He regularly advises non-U. S. clients on structuring inbound pre-immigration tax strategies including basis step-up in legacy assets, avoiding the U. S. CFC and PFIC anti-deferral tax regimes, optimizing use of foreign tax credits, minimizing green card status as well as advising on and drafting of “drop-off trusts.”  Mr. Warshaw also advises long-term green card holders and U. S. citizens on planning to minimize their U. S. exit tax through gift programs, managing equity compensation and by drafting “expatriation” trusts and considerations of a change of domicile outside the U. S. He has also counseled clients in complying with their U. S. tax filing obligations by engaging accountants and bringing such taxpayers into compliance with their numerous U. S. international tax reporting requirements. Mr. Warshaw has also advised on the U. S. international tax aspects of cryptocurrency, including how to become U. S. tax compliant and how to mitigate U. S. tax implications prior to and following renouncing U. S. citizenship.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
David Lesperance
Founder and Principal
Lesperance & Associates

Mr. Lesperance is one of the world’s leading international tax and immigration advisors. He has successfully advised scores of high and ultra high net-worth individuals and their families, many of whom continue to seek his counsel today. In addition Mr. Lesperance has provided pro bono advice to many governments on how to improve their Citizenship by Investment, Residence by Investment or “Golden Visa” type programs to better meet the needs of his global clients. He is supported by a team of professionals, some of whom have worked with him since the early 1990s.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

Description

Citizenship in a country other than, or in addition to, the U.S. can be appealing, particularly for individuals with cultural, emotional, and family ties to another country. Many countries, including Ireland, Israel, Italy, and Portugal, offer citizen by descent or citizen by ancestry programs. These countries agree that individuals can inherit citizenship rights through generational relationships.

Dual citizenship or having a second passport provides multiple opportunities for investment, travel, work, and living. Naturally, the eligibility criteria in each country varies. Individuals must consider the caveats and requirements of a second or new citizenship. While most countries have a territorial tax system, taxing individuals based on where they reside, the U.S. taxes all citizens regardless of where they live. Additionally, some countries require military service or language competency exams to claim citizenship. Understanding the nuances of a specific country's lineage requirements and the U.S. taxation of nonresidents is critical.

Listen as our authoritative panel of immigration attorneys reviews the benefits and caveats of claiming lineage citizenship, including income and estate tax considerations.

Outline

  1. U.S. citizenship
  2. Advantages of lineage citizenships
  3. General concepts
  4. Lineage citizenships in specific countries
    1. Israel
    2. Ireland
    3. Italy
    4. Argentina
    5. Other countries
  5. Types of backup plans
  6. Tax ramifications
  7. Case studies

Benefits

The panel will cover these and other critical issues:

  • Expatriation considerations for taxpayers moving abroad
  • Income and estate tax issues for dual citizens
  • Common steps to qualify for citizenship by ancestry
  • Applying for citizenship in Israel
  • Caveats to consider when applying for a dual or second citizenship

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify specific criteria for applying for citizenship in Israel
  • Determine how the U.S. taxes nonresidents
  • Ascertain caveats to consider when applying for a second citizenship
  • Decide which countries offer citizenship by ancestry

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).