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Index
Acknowledgements Legal Disclaimer What this book is and what it is not How to read this book Introduction Step 0: The Basics Income Tax Return Flow of a Tax Return Residency for tax purposes Residency for immigration purposes vs. Residency for tax purposes Form to file with the IRS: 1040, 1040NR, or both Social Security Number (SSN) and Individual Tax Identification Number (ITIN) Social Security Number (SSN) Eligibility for a Social Security Number (SSN) Employment Authorization Document (EAD) Individual Tax Identification Number (ITIN) Eligibility for an Individual Tax Identification Number (ITIN) Social Security and Medicare taxes (payroll taxes) Self-employment tax Who pays Social Security and Medicare taxes? Self-prepare vs. hiring tax professionals Step 1: Determining Residency The Green Card Test and the Substantial Presence Test (SPT) The Green Card Test The Substantial Presence Test (SPT) Tax Home and Closer Connection Residency Starting Day Residency Ending Day Leaving the U.S. permanently (“Sailing Permits”) Permanent Residents (Green Card holders) – The Green Card Test Green card granted when applicant is out of the United States Green card granted when applicant is already in the United States Permanent resident moving out of the United States Long-Term Resident and the Expatriation Tax Nonimmigrant Visa holders – The Substantial Presence Test Students on “F”, “M”, “J”, or “Q” visas Teachers and trainees on “J”, or" “Q” visas Skilled workers on “H” visas Intra-company transferees on “L” visas Persons without a Visa – The Substantial Presence Test Visitors not needing a visa (Visa Waiver Program) Undocumented aliens Adjustment of Status, Parolees, Refugees and Asylees Tools to determine residency Green Card Test worksheet Substantial Presence Test worksheet Determining and changing residency status worksheet Green Card Test flow chart Substantial Presence Test flow chart Determining and changing residency status flow chart Form to file with payers: W-9 or W-8BEN Step 2: Choosing to change Residency Status Options for single or married individuals First-year choice (from nonresident to dual-status) Residency through tax treaty Closer connection exception (remaining nonresident or ending residency early) Closer connection exception for foreign students (maintaining nonresident status) Options for married individuals who wish to file jointly with their spouse Treat nonresident spouse as resident (nonresident married to dual-status or resident) – §6013g Choosing resident status (dual-status married to a resident or two married dual-status) – §6013h Step 3: Prepare the Tax Return Spouses Dependents (children, parents, etc.) Tax benefits of having dependents Dependent exemption Child Tax Credit Additional Child Tax Credit Child and Dependent Care Credit Earned Income Credit Head of Household filing status Qualifying Widow(er) with Dependent Child filing status How to apply for an Individual Tax Identification Number (ITIN) Documents to send with ITIN application By mail In person at an IRS office Through an Acceptance Agent or Certifying Acceptance Agent Through your educational institution for students on “F”, “J”, or “M” visas Source of Income: U.S. or foreign? Nonresident Tax Return Form 8833, Treaty-Based Return Position Disclosure Under Section §6114 or §7701(b) Form 8840, Closer Connection Exception Statement for Aliens Form 8843, Statement for Exempt Individuals and Individuals With a Medical Condition Form 8854, Initial and Annual Expatriation Information Statement Effectively Connected Income Personal Services: wages, salary, independent contractor, consultant, etc. Scholarships, Fellowships, Grants, Awards, etc. Sale of Real Estate Property Not Effectively Connected Income Interest Dividends Capital Gains Real Estate Income (Rents and Royalties) Income exempt by tax treaty Itemized deductions State and Local Income Taxes Gifts to charity Education credits and deductions Resident Tax Return with Foreign Income Convert foreign currency into U.S. dollars Form 8891, U.S. Information Return for Beneficiaries of Certain Canadian Registered Retirement Plans Tax treaties and the “Saving Clause” Foreign Earned Income Exclusion Foreign Housing Exclusion Foreign Housing Deduction Foreign Tax Credit Itemized deductions Foreign Income Taxes Foreign General Sales Taxes Foreign Real Estate Taxes Foreign Mortgage Interest Foreign bank accounts, financial accounts, and assets Schedule B part III, Foreign Accounts and Trusts Form 8938, Statement of Specified Foreign Financial Assets (FATCA) Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) Dual-status Tax Return How to allocate income and deductions between resident and nonresident part Nonresident becoming resident Resident becoming nonresident Problems with Social Security and Medicare taxes Social Security and Medicare taxes withheld in error Employees classified as independent contractors Totalization agreements (Social Security Tax Treaties) Step 4: File the Tax Return with the IRS Nonresident and Dual-status Tax Returns By mail At an IRS office Resident Tax Return Electronic filing (e-file) By mail At an IRS office Extensions 6-month extension (Form 4868) 2-month automatic extension (residents out of the U.S.) 4-month extension (residents out of the U.S.) Discretionary 2-month extension (residents out of the U.S.) Extension of time to meet tests (Form 2350) Estimated taxes Receiving a refund Direct deposit Check Paying a balance due Check or money order Credit or debit card EFTPS (Electronic Federal Tax Payment System) Scheduled direct withdrawal from your bank account Installment agreement Extension to pay due to hardship Step 5 (optional): Modify (amend) an already filed Tax Return Amend a Nonresident or Dual-status Tax Return Amend a Resident Return References Appendix A - State Income Tax Departments Appendix B – Eligibility for a Social Security Number according to Visa Type Appendix C – Exceptions to Filing a Tax Return with an ITIN Application table of contents Step 1: Determine your Residency status Step 2: Determine whether you are eligible to choose a different Residency status Step 3: Prepare the Tax Return that corresponds to your Residency status Step 4: File the Tax Return with the IRS Step 5 (optional): Modify (amend) an already filed Tax Return Step 0: The Basics Appendix A Step 3: Prepare the Tax Return Self-employment Tax Uncollected Social Security and Medicare tax Not Effectively Connected Income Step 1: Determining Residency Employment Authorization Document (EAD) Appendix B How to apply for an Individual Tax Identification Number (ITIN) extension Step 1. Determining Residency Step 2. Choosing to change Residency Status Employees classified as independent contractors Step 3. Prepare the Tax Return Residency Starting Ending Days Permanent Residents (Green Card holders) – The Green Card Test
Students on ‘F’, ‘M’, ‘J’, or ‘Q’ visas Teachers and trainees on ‘J’, or ‘Q’ visas
W-9 or W-8BEN closer connection tax home Permanent Resident moving out of the United States Interest Residency Starting Day earlier termination of residency day Residency Ending Day teachers and trainees Skilled workers on “H” visas Step 2: Choosing to change Residency status Form 8843 residency ending day Substantial Presence Test worksheet choose resident status for the full year and file jointly an earlier ending residency day and become dual-status The Substantial Presence Test Determining and changing residency status worksheet First-year choice choose resident status and file jointly closer connection closer connection exception for students residency through tax treaty SSN or ITIN Effectively Connected Income First-year choice (from nonresident to dual-status) Residency through tax treaty Closer connection exception (remaining nonresident or ending residency early) Closer connection exception for foreign students (maintaining nonresident status) Treat nonresident spouse as resident (nonresident married to dual-status or resident) – 6013g Choosing resident status (dual-status married to a resident or two married dual-status) – 6013h amend it (change it) later Options for married individuals who wish to file jointly with their spouse Form 8833 Form 8840 end your residency earlier Students on “F”, “M”, “J”, or “Q” visas Form 8843 first-year choice apply for an ITIN make the choice to file jointly Social Security Number [SSN] or Individual Tax Identification Number [ITIN] eligible for a Social Security Number apply for an Individual Tax Identification Number choose to file jointly as residents exemption Green Card Test or the Substantial Presence Test Flow of a Tax Return deductions nonrefundable refundable filing statuses Dependent exemption Child Tax Credit Additional Child Tax Credit Child and Dependent Care Credit Earned Income Credit Head of Household filing status Qualifying Widow(er) with Dependent Child filing status nonrefundable credit refundable credit Foreign Earned Income Exclusion (or deductions) Dependent Exemption Spouses Appendix C exceptions exceptions to the requirement of filing a tax return flow of this part of the tax return Itemized deductions Not Effectively Connected dependent personal services claim residency in that country Closer Connection Exception to the Substantial Presence Test claim to be a nonresident statement Closer Connection Exception for Foreign Students Students on “F”, “M”, “J”, or “Q” visas Income exempt by treaty rents and royalties Social Security Number W-8BEN W-8BEN or W-9 interest amended tax return Appendix A – State Income Tax Departments Foreign Earned Income Exclusion Foreign Tax Deduction converted to U.S. dollars end your residency early Form to file with the IRS: 1040, 1040NR, or both Nonresident tax return Resident tax return with foreign income Foreign General Sales Taxes choose to become dual-status Not Effectively Connected Income Nonresident tax return adjustments allocate Receiving a refund Paying a balance due Closer Connection Exception claiming residency through a tax treaty How to allocate income and deductions between resident and nonresident part estimated taxes sailing permit EAD Extensions 2-month extension foreign income Foreign Housing Exclusion Foreign Housing Deduction By check or money order By credit or debit card By using EFTPS (Electronic Federal Tax Payment System) By scheduled direct withdrawal from your bank account Installment Agreement Extensions to file Estimated taxes Amended tax returns Extensions Direct Deposit extension applying for an ITIN treat a spouse as a resident choosing to be treated a resident instead of dual-status change your residency status Substantial Presence Test IRS forms and publications
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