Form 8288-B FIRPTA explained. Learn how foreign sellers can reduce 15% withholding tax on US property sales and apply for IRS withholding certificate.
Most people assume that if the IRS owes them money, it will wait. It will not. Under US federal tax law there is a strict three-year statute of limitations on tax refund claims. For the 2022 tax year, that window closes on 15 April 2026. Once that date passes, any unclaimed refund is forfeited permanently
The IRS Has a Deadline to Return Your 2022 Tax Refund. It Is Closer Than You Think. Read More »
Learn how ITIN holders can claim Child Tax Credit, Dependent Care Credit, and Education Credits on their US tax return. Eligibility and filing tips included.
ITIN Tax Credits: Claim Child, Dependent & Education Benefits Read More »
UNDERSTANDING QUALIFIED EXPENSES FOR THE AMERICAN OPPORTUNITY AND LIFETIME LEARNING TAX CREDITS As experienced IRS, Approved U.S. Tax Service, and US As an experienced agent, U.S. Tax Services, USA Personal tax preparers/Consultants our top tips are listed below. Did you know you can reduce your education costs with the American Opportunity Tax Credit (AOTC) or
Education Tax Credits: AOTC and Lifetime Learning Credit Guide Read More »
Are you a nonresident alien individual with interest income? Learn about the nontaxable types of interest income that may be available to you.
Nontaxable Types of Interest Income for Nonresident Alien Individuals Read More »
Form W-7 is used to apply for a USTAXID or often referred to as ITIN [Individual Tax Identification Number], This application process is required for non-citizens who aren’t eligible to receive a Social Security number but need to file a federal tax return with the IRS for income from US sources. A common scenario includes a foreign person with a United States based income filing a 1040Nonresident Federal Tax Return or US citizen/resident alien with a foreign spouse filing a joint 1040 tax return with a Married filing Jointly status.
Mailing address for your ITIN application Read More »
If you have recently moved out of America and this is your first year filing a 1040 tax return with additional reporting of foreign income (i.e income earned outside of the USA or Non-W2 income). It’s very common to get confused to take your call on to use Foreign Earned Income Exclusion (FEIE) or Foreign
Form 116 Foreign Tax Credit or Form 2555 Foreign Earned Income? Read More »
Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the Internal Revenue Service continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year. ITINs not used in the last three consecutive tax years. Under the Protecting Americans from Tax
ITINs are the alternate option of Social Security numbers for those taxpayers who are not eligible for a Social Security number. It is a 9-digit number, beginning with the number “9” which appears similar to an SSN (XXX-XX-XXXX). Is it essential to have an ITIN? You are required to apply for a ITIN, If you
How Long Does it Take to Get ITIN Issued? Read More »
There are many acronyms used by the IRS to identify the types of taxpayers and they are quite confusing for someone new, in this blog, we can discuss EIN and TIN. EIN and TIN are both used for business purposes meanwhile SSN and ITIN is used to identify yourself. EIN (Employer Identification Number) An Employer
Are EIN and TIN the same? Read More »