Definitely check, as George suggested, but I would say it should at least have swelling buds by now, if not leaves. The 'Bloodgood' Japanese maple we have here has its new leaves now. A few years ago we did have a cut-leaf Japanese maple suddenly die with a failed graft union after several years of being fine. Whether that's what has happened to yours is hard to say unless there is some new, and probably different looking, new growth at the base that doesn't show in the picture.