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Untangling the Complexities of the Form 1040NR

Guide your international clients who work and live both inside and outside of the US.

The benefit of this topic is to bring you up to date on all of the changes and nuances of the impact of international tax issues when dealing with the taxing authorities of two or more countries. It will help you guide your international clients who work and live both inside and outside of the United States. You will be able to address their real life issues relating to taxation in the U.S., such as how immigration status affects filing requirements, taxability of worldwide income, U.S. versus foreign country taxing requirements and how the form 1040NR can help, but also limit, tax savings for your clients.

Runtime: 93 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction

  • Complexities of the Modern World
    • Differing Tax Jurisdictions and Regulations
  • Ease of Travel
  • Working in Other Countries

Is the Form 1040 NR Right for You?

  • Who Is Eligible to Use Form 1040 NR
    • Individuals
    • Foreign Owned LLCs

Special Rules for Duel Resident Taxpayers

  • What Is a Dual Resident
  • Specified Foreign Financial Assets

Definition of Alien

  • Why Is the Definition Important
  • Resident Alien - Who Qualifies
  • Nonresident Alien - Who Qualifies

Why Does Residency Matter?

  • What Are the Tests of Residency
    • Green Card
    • Substantial Presence Test
  • Arguments Against Residency
    • Closer Connections
    • Individual's Intent

How Are Income Tax Treaties Utilized

  • When Are They Relevant
  • What Takes Precedence?
    • Treaties
    • IRS Code and Regs

What Income Is Taxed on Form 1040 NR

What Deductions Are Allowed on Form 1040 NR

  • Differences Between Form 1040 and Form 1040NR

Pitfalls to Be on the Lookout for

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on November 19, 2019.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Janathan L. Allen

Janathan L. Allen

Allen Barron, Inc.

  • Partner in the office of Allen Barron, Inc. & Janathan L. Allen, APC – Attorney
  • Practice emphasizes all aspects of international & domestic tax law; Business & commercial law; Business formation and entity selection; Estate planning & trusts
  • Conducts regular seminars and workshops on Tax-Advantaged Corporate Structures and Tax Minimization; NBI: Trusts -The Ultimate Guide; Estate Planning & Administration for Family Businesses; Employment Law and has appeared as panelist for Tech Coast Venture Network
  • Author of several publications related to the areas of complex international tax (The American/Expats in UK Magazine) bi-monthly contributor, IRS Audits, The Life Cycle of Business, IRS Offshore Reporting (FBAR & FACTA), California’s Prop 65
  • Membership information: Board of Directors, North San Diego Business Chamber, California Bar Association, American Bar Association
  • J.D. degree, Southwestern University School of Law, Los Angeles; LL.M. degree in taxation, University of San Diego School of Law, San Diego; M.B.A. degree in international finance, University of San Diego
  • Can be contacted at [email protected] or 858-376-1410
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404971
Published 2019
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