nonresident alien Archives

Feature Article

Unmasking the Myths: Who Can Truly Be a Shareholder in an S Corporation?

Revisiting the Basics of the S Corporation: Nonresidents as Shareholders Small business corporations are more popular than ever. You hear about them on social media, and among the tax community. Indeed, sm... Fernando Juarez, EA, and Edgar Gonzalez, EA

Spring 2025, Feature Article, TCJA, Tax Cuts and Jobs Act, s corporation, c corporation, GILTI, nonresident alien, ITIN, small business, partnerships, beneficiary, controlled foreign corporation, CFC, SSN, §1362(d)(2), shareholders, double taxation, foreign bank account, green card test, substantial presence test, Treas. Reg. 1.1361-1(g)(1)(i), §7701(b)(1)(B), §7701, Office of the Chief Administrative Hearing Officer, OCAHO, Immigration Reform and Control Act of 1986, Immigration Act of 1990, electing small business trust, ESBT, tax treaty, global intangible low-taxed income, Form 8833, Treas. Reg. §301.7701(b)-7, INTL-121-90, §1361(a)(1), §1361(b)(2)(C), §1362(a), Treas. Reg. §301.7701(b)-7(a)(4), §957, §552

Feature Article

Tax Compliance for Refugees

“Give me your tired, your poor, your huddled masses yearning to breathe free…” – Emma Lazarus All... Mary Beth Lougen, EA, USTCP

Spring 2024, Feature Article, foreign, immigrants, FBAR, COVID-19, Form 114, earned income tax credit, EITC, child tax credit, Economic Impact Payment, Form 8858, Form 8938, Form 5471, Form 8865, Form 3520, Form 3520-A, nonresident alien, international information returns, §6013(g), §6013(h), §6428B, §6428, §7701(b)(1)(A), Form 8621, refugees, asylees, permanent resident, green card, humanitarian, visa, employment authorization document, EAD, §7701(b)

Nonresident Aliens Who Own U.S. Real Property: A Primer

Feature Article

Nonresident Aliens Who Own U.S. Real Property: A Primer

The United States (U.S.) tax system allows for residentsi and nonresidentsii to file a federal income tax return and pay any taxes owed by the due date of the return. Though the Internal Revenue Service (IRS) has various tools in its arsenal to go...

Mar/Apr 2022, Feature Article, real estate, Foreign Investment in Real Property Tax Act, FIRPTA, FDAP, nonresident alien, IRC 7502, §1441, Form 8288, Form 8288-A, Form 1040-NR, ITIN, §871(d)