Instructor for this course
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As a boutique international tax firm, we’re finding international tax issues arising for individuals and companies of all sizes. Many of them never thought they’d have any cross-border activities. As many of our clients are CPA and law firm across the US, we thought it might be helpful to do a series of discussions on International Tax for the Non-Specialist. They are overviews designed to assist practitioners and taxpayers identify issues. The overviews dive into some level of detail, but we envision separate sessions to more fully explain various technicalities.

This discussion is #4 in the series following:
#1 on tax residency and foreign financial account disclosures [FBAR / FinCen 114 / Form 8938];
#2 on earning foreign income and an employee being transferred to a foreign affiliate;
#3 on the anti-deferral rules of Subpart F and identifying a controlled foreign corporation).

The primary focus on this presentation is an overview of how the US taxes the income of Nonresidents. This includes, but is not limited to:

1. Taxation differences between Residents and Nonresidents.
2. How to identify whether an individual is a Resident versus Nonresident.
3. Identifying types of Nonresident income the US may tax.
4. Different filing status (e.g., Married Filing Jointly).
5. Tax calculation (e.g., gross versus net; what deductions are Nonresidents able to claim).
6. Overview of Resident taxation and how a non-US citizen may become a US tax resident.
7. FDAP versus Effectively Connected Income.
8. When there is withholding on gross income versus a return filed on net income.
9. Compliance factors.
10. Issues related to whether there is a US trade or business.
11. As relevant, state tax issues are embedded throughout.

 

Course key Concept: International tax, Individual income tax, Resident Alien, Substantial presence test, Nonresident Alien Green Card, US trade or business, Effectively connected income, W-8BEN, Information returns, FinCEN 114 / FBAR, 8938, 5471 8865, 8858, 3520, 8621, 926, FDAP.

Other Tax courses by Marc Schwartz
Practical International Tax for the Non-Specialist #1: Tax Residency and Foreign Financial Account Disclosures
Practical International Tax for the Non-Specialist #2: Case Study - US Person Earning Foreign Income and then Transferred to Foreign Subsidiary.
Practical International Tax for the Non-Specialist #3: Anti-deferral overview– Subpart F and CFCs.
Practical International Tax for the Non-Specialist #5: Section 956
Practical International Tax for the Non-Specialist #6: Check The Box Overview (Entity Classification Election)

Course Series

This course is included in the following series:

6 CoursesPractical International Tax for the Non-Specialist

  1. Practical International Tax for the Non-Specialist #1: Tax Residency and Foreign Financial Account Disclosures
  2. Practical International Tax for the Non-Specialist #2: Case Study - US Person Earning Foreign Income and then Transferred to Foreign Subsidiary.
  3. Practical International Tax for the Non-Specialist #3: Anti-deferral overview– Subpart F and CFCs.
  4. Practical International Tax for the Non-Specialist #4: US Taxation of Nonresident Individuals
  5. Practical International Tax for the Non-Specialist #5: Section 956, Investment of Earnings in US Property
  6. Practical International Tax for the Non-Specialist #6: Check The Box Overview (Entity Classification Election)

Learning Objectives

  • Explore the residency rules.
  • Identify how the US may impose income tax on Nonresidents.
  • Discover the various ways a Nonresident may file a US tax return.
  • Recognize the compliance requirements of Nonresidents and how they differ from Residents’ requirements.
Last updated/reviewed: June 08, 2020

Prerequisites

Course Complexity: Foundational

No Advance Preparation is required. It is suggested that above mentioned courses (#1, #2 and #3) should be completed prior to this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  3:58Introduction to Practical International Tax for the Non-Specialist #4: US Taxation of Nonresident Individuals
  10:30US Taxation of Nonresident Individuals - Part 1
  12:30US Taxation of Nonresident Individuals - Part 2
  12:07US Taxation of Nonresident Individuals - Part 3
CONTINUOUS PLAY
  39:05Practical International Tax for the Non-Specialist #4: US Taxation of Nonresident Individuals
SUPPORTING MATERIAL
  PDFSlides: Practical International Tax for the Non-Specialist #4: US Taxation of Nonresident Individuals
  PDFPractical International Tax for the Non-Specialist #4: US Taxation of Nonresident Individuals Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM