Tax Articles

New York City

Your Unfiled FBARs

Perhaps you were born and raised in the United States, but left years ago to make a life in another country. You never thought about filing tax returns in the United States because you did not live here. Then one day your bank informs you that your name and Social Security number, as well as the value of your accounts, has been given to the IRS. You wonder why, and with a little Googling you discover that your obligation to file a US tax return never ended. You also discover, with shock and horror, that you might be on the hook for massive penalties for failing to file something called an FBAR.
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Night Bridge

Electronic Filing for Form 1040NR, Finally!

IRS Brings Nonresident Returns to the Modern Age Over the last 30 years the IRS has transformed the tax return filing process from one that relied entirely on paper forms to a system that is primarily paperless. Paper tax forms are no longer available at the local post office, and the large crowds of frantic…
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Nonresident Aliens and Social Security

General Social Security Tax Rules Most people who earn wages in the United States are required to contribute to the Social Security and Medicare programs through payroll contributions. Contributions are required regardless of a worker’s residency status. A total contribution of 15.3% of gross wages is required for each worker, half of which is contributed…
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Foreign Trust Penalty Notice

Foreign Trusts: IRS CP15 Penalty Notices For Late Form 3520-A Traumatize Many Innocent Taxpayers!

Reprinted here from It was early on a Monday morning, and I dragged myself in after a long weekend of reg. buzzing and Code section perusing. I was not looking forward to the day. I played a message on my answering machine that made me want to return home and crawl back into bed.…
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Nonresident Alien LLC

Form 1040NR, Form 1120 and Form 5472: A US Tax Guide for Nonresident Aliens with a Single-Member LLC

Tax Reporting for Nonresident Alien LLC Members A limited liability company (LLC) is a popular choice of entity for conducting business or holding rental real estate in the United States. It is a business structure you can form in any one of the fifty states. An LLC is designed to protect the personal assets of…
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