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Tuesday, April 28, 2009

Who has an Estate and Gift Tax Treaty with the US?

I just noticed a helpful link at the IRS that gives a nice chart detailing which countries have an Estate and Gift Tax Treaty with the US: Estate and Gift Tax Treaties.


Anonymous said...

I have a estate question for you-if my parents (both non residents-citizens of Japan) have a house in US-CT and want to gift me half the house, is it subject to gift taxes? I am a us citizen.

Kevin A. Pollock, J.D., LL.M. said...

Yes, gifts are subject to subject to gift taxes. There are several different ways to make the gift though that will either reduce the tax or eliminate it completely by spreading the gift out over a number of years.