Tax | ITINCAA

ITIN Application Common Category

by Kader Ameen | Mar 29, 2023 | IRS, ITIN, Tax, tax returns, US laws

Foreign Nationals with 30% Tax Withholding on 1042S/1099 – You need US Tax ID to reclaim a refund. ITIN – US TAX ID For Foreign Person What is an US TAX ID OR ITIN? ITIN stands for Individual Tax Identification Number which is a U.S Tax Id for Foreign Nationals who...

ITIN for Foreign Person Wages Salary Compensation and Honoraria Payments with Tax Treaty Benefits Claimed

by Kader Ameen | Jun 23, 2022 | Tax, US Tax

Form 1042-S, Foreign Person’s United States Source Income Subject to Withholding, If a Valid US Tax ID is not provided to US firms distributing the income, the US firm has an obligation to withhold a flat 30% tax on the Gross income distribution. The Federal tax...

Married Filing Separate vs Married Filing Joint

by Kader Ameen | Mar 22, 2021 | Tax

US CITIZENS FILING 1040 FOR FIRST TIME AFTER THEIR WEDDING TO NON-US CITIZEN FOREIGN NATIONAL SPOUSE AND CONFUSED ABOUT TO CHOOSE MFS OR MFJ Option on 1040 US TAX RETURN? 1040 Married Filing Separate [MFS] or Married Filing Joint [MFJ] Brief Tax Implication Reporting...

US LLC Taxes – For foreigners and US Citizens/Resident Owners

by Kader Ameen | Oct 17, 2020 | Tax

A US-based LLC can have great tax advantages, especially for foreign entrepreneurs abroad. Even for US taxpayers(i.e US Citizens, US Residents, and Greencard holders), LLC taxes can be favorable. An LLC is treated as a pass-through tax entity. What this means is that...

Non-US Citizen (Foreign Nationals investors) With US Income Subject to Withholding Do Not Ignore Form 1042-S

by Kader Ameen | Sep 3, 2020 | Tax

1042-S – What Is It and Who Needs to Complete It? This form has to be completed by the US-based Withholding Agent – (i.e. bank or broker/Financial Institution that pays passive income and must withhold tax on the disbursals, but the overall scope is...

Form 1116 Foreign Tax Credit vs. Form 2555 Foreign Earned Income Exclusion which one is better?

by Kader Ameen | Jun 10, 2020 | Tax, US Tax

If you have recently moved out of America and this is your first year filing 1040 tax return with additional reporting of foreign income (i.e income earned outside of the USA or Non W2 income). It’s very common to get confused to take your call on to use Foreign...

« Older Entries

ITIN Application Common Category

ITIN for Foreign Person Wages Salary Compensation and Honoraria Payments with Tax Treaty Benefits Claimed

Married Filing Separate vs Married Filing Joint

US LLC Taxes – For foreigners and US Citizens/Resident Owners

Non-US Citizen (Foreign Nationals investors) With US Income Subject to Withholding Do Not Ignore Form 1042-S

Form 1116 Foreign Tax Credit vs. Form 2555 Foreign Earned Income Exclusion which one is better?

Recent Posts

Which Tax ID Do You Need?

EIN is a BUSINESS Tax ID used to start a business and open a business bank account. You need an EIN if you’re starting a business

ITIN is a PERSONAL Tax ID used to file taxes and open a personal bank account for those who do not have and are not eligible to get an SSN

US PERSONAL TAX are imposed by the federal, most state, and many local governments. The income taxes are determined by applying a tax rate, which may increase as income increases, to taxable income.