Form 1040NR Non-Resident Alien Filing Challenges and Effective Approaches
Determining Taxpayer Classifications and Elections, Computing Income and Deductions, and Understanding Spouse/Dependent Treatment
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax advisers and compliance professionals with a thorough and practical guide to preparing Form 1040NR, U.S. Nonresident Alien Income Tax Return. The panel will offer useful guidance in determining which individuals should file, identifying and reporting income subject to U.S. income tax, identifying available deductions and limitations, claiming refunds, and discerning correct tax treatment of spouse and dependents.
Outline
- Defining a foreign investor
- Source-of-income rules
- Who files Form 1040NR?
- Nonresident alien standard
- Dual-resident taxpayers
- Dual-status taxpayers
- Impact of 2017 tax reform law on nonresident filing requirements
Benefits
The panel will tackle issues such as:
- What are the critical complexities and best practices for tax advisers in determining classification and status of a taxpayer as a U.S. resident or nonresident alien?
- What income items and deductions should always be considered when preparing Form 1040NR?
- What is the difference between income effectively connected with a U.S. trade or business (ECI) and FDAP, and how is this income reported and taxed on Form 1040NR?
- What special elections apply to a U.S. nonresident alien?
- What common mistakes can tax professionals anticipate and avoid when preparing Form 1040NR?
Faculty
Nancy Ortmeyer Kuhn
Director
Jackson & Campbell
Ms. Kuhn specializes in Federal and state tax matters and is the Chair of the firm's Tax Group. She has... | Read More
Ms. Kuhn specializes in Federal and state tax matters and is the Chair of the firm's Tax Group. She has a strong and diverse background in tax planning, representation of taxpayers before the IRS, and tax litigation. She advises clients with complex non-profit/for-profit structures including joint ventures, affiliated 501(c)(3)/501(c)(4)/527 entities, micro-finance non-profit/for-profit affiliations, supporting organizations, and domestic/international affiliated non-profit/for-profit entities. She also assists clients in navigating and negotiating favorable settlements in employment tax and individual collection matters. She represents clients with unrelated business taxable income planning, compliance, and IRS examination issues and also advises individuals with regard to foreign and domestic tax issues.
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Marc J. Strohl, CPA
Principal
Protax Consulting Services
Mr. Strohl specializes in international U.S. individual income taxation issues as related to individual U.S.... | Read More
Mr. Strohl specializes in international U.S. individual income taxation issues as related to individual U.S. expatriates and nonresident aliens or foreign nationals, serving individual clients as well as the employees of employer-sponsored programs of multinational public, non-profit companies and professional firms. He is a member of the AICPA and NYSSCPA’s International Taxation Committee and Taxation of Individuals Committee, and a regular contributor to the NYSSCPA’s “The Trusted Professional” and blog publications. He is featured internationally including his Published main articles in the critically acclaimed Thomson Reuters’ twice-monthly newsletter publication Practical International Tax Strategies. His industry benchmark authoritative executive summary tax articles found at: https://www.protaxconsulting.com/article/ regarding U.S. Expatriate and Foreign National-Nonresident and/ or Resident Alien tax are world renown and standard issue at the big 4 to staff and clients.
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