The United States has many classifications of people living within its boundaries. Terms like resident aliens, nonresident aliens, dual-status aliens, expatriates, visas, special immigrants, and undocumented aliens are not merely confusing. They also have a significant impact on the filing of Forms 1040 and 1040NR.
This unique class will discuss not only the preparation of the various tax forms, but it will also provide an improved understanding of the concepts of U.S. immigration and its impact on tax compliance.
• Classification of taxpayers for tax purposes – U.S. and foreign
• Coming to America
o Immigration 2015 update
o Immigrant visas – overview of types
o Immigration application process
o Impact of the Dream Act
• Green card test
• Substantial presence test
• Closer connection to foreign country test
• Form 1040NR
o Who must file?
o Election to be taxed as a resident alien
o How to claim refunds
o Dual-status aliens
o How to report income on Form 1040NR
o Election to treat income as effectively connected with a U.S. trade or business
o Recent changes in 1040NR filing
• Withholding and Social Security tax issues
Recognize the difference between a U.S. citizen, resident alien, nonresident alien, and a dual-status alien.
Secure a basic knowledge of U.S. immigration law, visas, and other nontax issues affecting the tax liability of noncitizens residing in the United States.
Understand the filing requirements for Form 1040NR.
Be able to explain tax planning tools to clients currently residing in the United States.
Stuart “Stu” Sobel combines an in-depth knowledge of taxation and nonprofits with an ability to communicate clearly. A dynamic speaker, Stu seeks to help people understand the very complex world of taxation in every day terms. And he’s just the person to do it — Stu has been in the industry for 48 years. He worked in examination and high level positions at the IRS for 30 years. Following that, Stu spent nine years as the producer and host of his own nationally syndicated radio program called Wise Choices: Taxes and Charity Today. He also ran his own tax and nonprofit consulting firm for 12 years (Stuart Sobel Consulting, Inc.). He has helped create over 2,500 nonprofit organizations worldwide. His expertise on the topic of nonprofit taxation has earned him the title “The Guru of Giving.”
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