In last week’s post, we discussed the taxation of nonresident aliens, ECI and FDAP income, as NRA is the most common status of green card holders after they leave the United States and surrender their green cards, and that of US citizens who give up their citizenship,...
Last week we discussed sourcing of income, when income is from sources within the USA and when income is from sources without the USA. We are going to devote this issue to the taxation of US source income of NRAs. US tax residents are taxed on their worldwide income,...
Last week we discussed how, per our tax code, “by default, all income is gross income” (insight #4), from whatever source derived, unless specifically exempted. That’s the law. The week before last we discussed who is a US tax resident and who is a nonresident for US...
In the past two weeks we covered The Ultimate US Tax Guide’s first three Key Tax Insights: #1 – IRS correspondence does not necessarily equal error #2 – Lack of IRS correspondence does not necessarily equal agreement #3 – Your US tax residency status...
Last week we started the series The Ultimate US Tax Guide, 37 Key Tax Insights. These were the two key insights discussed in last week’s post: Insight #1 – IRS silence does not necessarily equal agreement. Insight #2 – IRS correspondence doesn’t not necessarily equal...
As promised 10 days ago, this is the first of 37 issues in our new posts, The Ultimate US Tax Guide, where I will share with you 37 key tax insights that US taxpayers like us need to understand, to help us take care of our US taxes with more confidence and...
