Compliance Requirements for Nonresidents

Course Description
Course Qualification
Presenter
FAQ

Course Description

Many nonresident aliens are either employed, own rental property, or earn dividends from U.S. investments in the United States. Nonresident aliens are subject to U.S. income tax only on their U.S.-source income. Tax advisers must conduct a careful analysis to determine their taxpayer status, connection to the U.S., approaches to reduce their tax liability, and U.S. reporting obligations.

Taxpayers without green cards or who do not maintain a substantial presence in the U.S. during the calendar year are considered U.S. nonresident aliens. These nonresident aliens can be subject to two different tax rates, one for effectively connected income (ECI) and one for fixed, determinable, annual, or periodic (FDAP) income.

Nonresident taxpayers with American income/activities have assorted American tax filing requirements. Disclosure of foreign-situs assets is usually unrequired (i.e. non-residents are not required to file an FBAR), but assorted American activities/connections require reporting. Tax treaties, deductions, credits, and other options are available to reduce or eliminate the applicable tax rates or liability.

Speaker Patrick McCormick in this CPE course covers United States tax filing/compliance requirements for non-resident taxpayers.

The following are the major topics covered in this CPE Taxation course:

Background Considerations
Income Tax Reporting
Information Filing Obligations
Form 8832
Form 8833
Form 1042
Form 1042-S
Form W-8ECI
Forms W-8BEN/W-8BEN-E
Form 5472
Corporate Transparency Act

This CE/CPE tax webinar also covers where income tax returns are required, and specific forms used based on the category of a non-resident taxpayer.

Learning Objectives

To discuss threshold-level considerations for income tax reporting and information filing obligations.
To review Form 8832, Form 8833, Form 1042, and Form 1042-S.
To analyze Form W-8ECI, Forms W-8BEN/W-8BEN-E, and Form 5472.
To evaluate the Corporate Transparency Act in detail.

Recommended For

This IRS-approved CE webinar is recommended for CPAs, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, tax partners, tax return preparers, tax attorneys, and other tax practitioners who want to advise businesses and individuals with Compliance Requirements for Nonresidents.
This course is also helpful for tax professionals who want to understand everything about Pre-Immigration tax planning.

Who Should Attend?

Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Public Accountant (CPA)
CPA (Industry)
CPA - Large Firm
CPA - Mid Size Firm
CPA - Small Firm
Maryland Tax Preparers
Oregon Tax Preparers
Young CPA

Course Qualification

Webinar Qualifies For

1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0941)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01125-22-O)
1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01125-22-O)
1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01125-22-O)
1 CPE Credit of Taxes for Certified Government Financial Manager (CGFM)
1 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
1 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
1 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
1 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
1 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
1 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
1 CPD Credit of Taxes for Personal Financial Specialist (PFS)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

Group Internet Based
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Lambers, Inc.

, Lambers, Inc.

Lambers Financial is a leader in providing E-learning courses for accounting professionals looking to achieve the industry's most recognized designations such as the Certified Public Accountant (CPA) and Enrolled Agent (EA). Accounting and finance professionals around the world incorporate Lambers products into their training programs.

Lambers CPA Review was started by Vincent W. Lambers in July of 1966 in Boston, MA. The first class had six students and from that point, the program grew to be the largest live instruction CPA Review program in New England. The Lambers teaching method of illustrations, examples and working problems has helped over 250,000 candidates pass the CPA Exam since that first class in 1966.

Today, Lambers review courses deliver that same successful teaching style to exam candidates via online video, unique adaptive testing software, and textbooks. Over the last two decades, we've expanded our offerings to include the Enrolled Agent (EA), an extensive library of both IRS approved continuing education (CE) courses (including the IRS Federal Tax Refresher (AFTR) course for registered tax professionals), and NASBA approved continuing professional education (CPE).

See why Lambers Financial has remained a leader in professional education for over fifty years! Visit our website today to check out our full line of review courses and titles.

Faq

FAQs content

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