Are you confused between which form to file 1040 or 1040NR – Some helpful FAQ

Who need to file Form 1040?

Form 1040 US federal tax return is filed by US Citizens/Green card holders and foreign nationals (Non-US citizen) who meet the 183 residency test or Substantial Presence Test (SPT) or Greecard Test. The Form  1040  filers need to declare the worldwide income reporting (i.e US and Non-USA based income). The Form 1040 filers have an option to file as Married filing Separate or Married filing jointly or Head of Household (US citizen with children married to foreign spouse). More information Married Filing Joint and Married Separate option benefits.

The Form  1040  filers need to declare the worldwide income reporting (i.e. US and Non USA based income). The Form 1040 filers have an option to file as Married filing Separate or Married filing jointly or Head of Household (US citizen with children married to foreign spouse). More information Married Filing Joint and Married Separate option benefits.

Who need to file Form 1040NR

Form 1040NR US federal tax return is filed by foreign person with any source of USA based income, If a foreign person [Non US Citizen] receives any income, excluding exempt income (bank interest income) or had any US tax withholding on Form 1042S or Form 1099 or Form 8805 or FIRPTA Tax Withheld on Form 8288A. These individuals can file the Form 1040NR tax return and claim back the excess tax withheld via refund claim. Please note these individuals need to have an valid ITIN before filing the tax return, Its also important the ITIN is renewed if unused for more than one tax year.

For more category of 1040NR filing with ITIN click here.

Tax filing date to file Form 1040/1040NR?

Form 1040 US federal tax return is filed by US Citizens/Green card holders by 15th April (extended to 17th May for 2020 tax year due to pandemic) if living in the USA. US Citizens and green card holders can file be 15th June and file an extension by completing Form 4868 which allows an extension of time until 15th October.

Form 1040NR US federal tax return is filed by Foreign Nationals and due date to file this tax return is 15th June and file extension by completing Form 4868 which allows extension of time until 15th October.

What if I missed to file the tax return in time?

You can still file the tax returns, if no taxes due then no there is no late filing or late tax payment penalties due. If any taxes are due then interest on taxes due, late payment of taxes penalties, and late filing penalties would apply from the initial tax filing date 15th April for the relevant tax year until the time of filing. It’s better late than never. For 1040NR files mostly likey in refund position would miss out on the refund claim for taxes prior to 2016 if filing in the year 2021 (as the maximum time for refund claim is 3 years from the initial tax year filing deadline date of 15th April )

Our team specializes in international expatriate U.S. personal tax return service. If you need assistance with ITIN Renewal/US 1040 filing for refund claim/FATCA Compliance work/FBAR FINCEN114 Filing, ITIN/ Form W7 Application/E.I.N./Form W8BENE or Certified Acceptance Agents [C.A.A.] services/1040NR U.S. tax filing for refund claim of excess 1042S / 8288A/ 8805/ W2/ 1099. We are happy to assist our clients in a timely, efficient, and cost-effective way.

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