The scope of this article is to give general information to a non US fiscal resident, who needs to request a U. S. federal tax identification number. As space is limited, this article is a summary, and not a comprehensive representation of the treaty of the laws which regulate this matter and its processes, nor […]
There is a difference among the terms “tax resident” as used in U.S. tax law and “resident” or “legal resident” in U.S. immigration law. For example, you can be a tax resident but not a legal resident.
If you are a fiscal U.S. resident – even if you have not generated income outside the U.S. – you must still report the assets you own abroad or risk harsh IRS penalties.
As the April 15 deadline to file your individual federal tax return approaches, here are some of the most commonly overlooked IRS forms that you may also be required to file if you have foreign assets:
When Max Magnani moved to the U.S. in 1997 to set up the North American headquarters of a large Italian manufacturing company, he had to overcome a number of cultural and business challenges that most American CPAs are simply unprepared to deal with. “In the U.S., the CPA is often just the person who makes […]