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Form 1040NR, U.S. Non-Resident 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, non-resident alien, dual-status alien, or undocumented alien is critical in this evaluation. Immigration laws impact the tax liability of non-resident 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 non-compliance 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 treating fixed, determinable, annual, or periodic (FDAP) income. Also, international students in U.S. colleges and universities face reporting and tax requirements on previously non-taxable stipends.
Listen as our experienced instructor, Marc J. Strohl, CPA, provides a thorough and practical guide to identifying and meeting the unique challenges of preparing Form 1040NR, U.S. Non-Resident Alien Income Tax Return.
Learning Objectives:
- Define a foreign investor
- Identify source-of-income rules
- Identify the impact of the 2017 tax reform law on non-resident filing requirements
- Recognize who files Form 1040NR (non-resident alien standard, dual-resident taxpayers, dual-status taxpayers)
Marc J Strohl, CPA, is a founding Principal at Protax Consulting Services Inc., established in 2001, previously with Deloitte & Touche LLP, PricewaterhouseCoopers, and Ernst & Young LLP.
He has more than 20 years of extensive experience specializing in international U.S. individual income tax issues related to individual U.S. expatriates and nonresident aliens or foreign nationals serving individual clients and employees in employer-sponsored programs of multinational public, non-profit companies, and professional firms.
Marc is a multi-state licensed CPA and is a member of the AICPA and NYSSCPA, including their International Taxation and Taxation of Individuals Committees. He is a regular contributor to the NYSSCPA’s “The Trusted Professional” and blog publications. He is featured internationally, including the critically acclaimed Thomson Reuters’ twice-monthly newsletter publication Practical International Tax Strategies, now rebranded Journal of International Taxation and their Practical Tax Strategies publication.
Marc’s concise and informative industry benchmark authoritative executive summary tax articles regarding U.S. Expatriate and Foreign National-Non-Resident and Resident Aliens tax are world-renowned and standard issues at the big 4 to staff and clients.
In addition to being a regular speaker at the NYSSCPA - FAE Technical Sessions and Committee Conferences, Marc is a frequent external speaker on U.S. international individual taxation matters and featured faculty at Clear Law Institute, myCPE, CCH- Wolters Kluwer CCH Webinars, Lawline, Furthered and Strafford Publications, providing online C.P.E. and C.L.E. education courses to CPA's and Attorney's worldwide.
He earned a Master's degree in Public Accountancy from McGill University, Montreal, Canada, and a Bachelor of Science Honoring in Chemistry.
About Our Presenter
Protax quickly has become a leading professional services tax accounting and consulting firm offering world class tax accounting, consulting, and compliance and accounting business management services to individuals and businesses worldwide. We are the exclusive US tax providers and preferred information resource to the world's top expatriate websites and we are ranked number one by the World Wide Web's top search engines and directories, Yahoo and Google. Our concise and informative executive summary tax articles are considered industry benchmarks. We operate on a global platform with client presence worldwide providing seamless tax coverage worldwide through a national and international affiliation in a strategic alliance of independent accounting firms. In this profession, you are only as good as your last compliance and consulting engagement. Our clientele has become fickle and more demanding for top quality professional service, advice, and results all at a reasonable price structure. For this reason, Protax has grown quickly. For this commitment, our clients continue to send us testimonials and are appreciative of all our efforts. Protax is a progressive firm employing state of the art technological advantages. From research to tax planning and advice we use our electronic tools wisely to analyze the alternatives and to recommend appropriate courses of action. We are always on the lookout for innovative technologies that will make our work more meaningful and seamless to the client. Our assets are our people. Our talented, resourceful, and spirited people are the very best techniques in terms of competence, always with an eye towards service and timeliness.
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