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Wednesday, October 28, 2015

2016 estate and gift taxes


The donor is generally responsible for paying gift tax.  The general rule is that any gift is taxable gift.  However, there is annual exclusion for each calendar year.  IRS announced 2016 Estate and Gift tax exemption. 
"It's official-for 2016, the estate and gift tax exemption is $5.45 million per individual, up from $5.43 million in 2015. That means an individual can leave $5.45 million to heirs and pay no federal estate or gift tax."
See an article in Forbes http://www.forbes.com/sites/ashleaebeling/2015/10/22/irs-announces-2016-estate-and-gift-tax-limits-the-10-9-million-tax-break/


Tuesday, October 20, 2015

Temporary extension of EB-5 program

      In the beging of Ocober tHe Congress passed  the Continuing Resolution that includes a temporary extension of the EB-5 Regional Center Program. Although the extension allows the program to continue generating foreign direct investment and creating U.S. jobs through December 11 2015 it does not provide the investors with a long-term plan for EB-5 program. 
       Hopefully, in mean time the Congress will consider a long-term reauthorization bill that would make EB-5 program strong and be an integral part of the US immigration system that brings talented people to the US. 
       Members of Congress from both parties and both the House and Senate are negotiating in good faith to make it happened. 
       To check how EB-5 program is working now see http://www.iv-law.com/immigration-lawyer/green-card/eb-5-investor-green-card/.
        For the list of approved EB-5 Regional Centers go to
http://www.uscis.gov/working-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/immigrant-investor-regional-centers