The United States continues to be a magnet for immigration, with nearly 8 million new immigrants settling here between 2008 to 2014 -- and some of these new immigrants are high-net-worth individuals who are unprepared for the intricacies of the U.S. tax law, according to Seth Entin, a shareholder at the tax practice at law firm Greenberg Traurig.
“For a person with significant wealth who plans on coming to live in the U.S., it is critical that they engage in tax planning before they become a citizen or resident,” he said. “The tests for income tax and estate tax are different, and can be a bit of a trap,” he said.
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