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


Conducted on Tuesday, November 20, 2018

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar 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.

Description

Form 1040NR, U.S. Nonresident Alien Income Tax Return, presents several daunting challenges for tax advisers and compliance professionals. Just deciding whether a foreign person needs to file a Form 1040NR is unclear.

The adviser’s determination of whether a person is a resident alien, nonresident alien, dual-status alien, or undocumented alien is critical in this evaluation. Immigration laws impact the tax liability of nonresident aliens and individuals who are not citizens but reside in the United States.

Advisers must also know available elections, deductions and limitations; how to report income and claim refunds; treatment of spouse and dependents; and filing due dates and noncompliance penalties. As with other foreign-related filings, the IRS imposes penalties for failure to timely file Form 1040NR even if the taxpayer has no tax liability.

The 2017 tax reform law added new complications, particularly in the treatment of Fixed, Determinable, Annual or Periodic (FDAP) income. Also, international students in U.S. colleges and universities will face reporting and tax requirements on previously nontaxable stipends.

Listen as our experienced panel provides a thorough and practical guide to identifying and meeting the unique challenges of preparing Form 1040NR, U.S. Nonresident Alien Income Tax Return.

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Outline

  1. Defining a foreign investor
  2. Source-of-income rules
  3. Who files Form 1040NR?
    1. Nonresident alien standard
    2. Dual-resident taxpayers
    3. Dual-status taxpayers
  4. 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

Kuhn, Nancy
Nancy O. 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

Strohl, Marc (new)
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

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