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IRS Acceptance Agent and Enrolled Agent for your American tax return filing as a Nonresident and US Tax ID application service

I’m not a USA-based resident or Citizen but I have an Investment income from America – Do I need to file a US tax return?

If you are a foreigner who has done an investment in American stocks, trade, member of the Limited liability corporation, Inc, foreign partner of the US firm, Have US-based property and receiving rental income, etc. You have an obligation to declare the income received from American-based sources by filing a non-resident Alien US tax return, even if you are a foreigner resident of the country with which the USA has got tax treaty you still need to ensure you have a valid Form W8BEN completed and compliance reporting are taken care by the Income distributors.

Common Categories for the 1040NR tax return filing for Nonresident?

Foreign Nationals with US-based income need to report this income on 1040NR filing.

1040 Nonresident Alien Tax Return [1040NR], as a non-US Citizen, if an individual foreign national have any source of Income from US sources with a US tax filing obligation and without the ITIN or US tax ID, the IRS cannot process tax return, so these individual need an ITIN for file US tax return.

Common 1040NR Tax Return Filing Includes:

  1. Foreign National investors in USA-based property investment, who have sold the US-based property and had a FIRPTA tax withholding by your title company, or escrow team, and have been issued Form 8288A, then you would require an ITIN application for the refund reclaim process. For more information please click here.

  2. Foreign National investors in USA-based property receiving rental income. These rental incomes are to be reported on Schedule E of the 1040NR. Its recommended to declare and file the tax return even if it's a loss situation, as this approach would be of rescue and good tax planning to carry forward losses to next year and offset with the future profit or income.

  3. 1040NR tax return for reporting of the Form 1099B or 1042S or 8805 excess federal tax withholding reclaims process. For the tax refund reclaim filing of the Form 1040NR with a valid ITIN application is mandatory.

  4. A foreign person who is beneficiary of estate or nominees of the deceased person received USA-based pension beneficiary income from Fidelity, TIAA pension, or other pension distribution [FORM 1099-R], in order to claim back the excess tax withholding on the distribution, you are required to have a file 1040NR with the 1099R.

  5. If you are a resident of the tax treaty country with the USA and eligible to claim the tax treaty this could be for capital gain, royalty income, employment income, etc then you would need an ITIN and file a US tax return if any excess tax had been erroneously withheld by the US income distribution team and you now want to reclaim the tax paid to the USA.

  6. US tax return for Form 1099G Gambling winning 30% Federal tax withholding reclaim if this tax was withheld because you did not provide a valid ITIN or US tax ID etc.

For more information and a list of who requires an ITIN?

Our team specialises in ITIN, EIN, and US international expatriate U.S. personal tax return service. If you need assistance with US 1040 filing for refund claim/FATCA Compliance work/FBAR FINCEN114 Filing, ITIN/ Form W7 Application/EIN/Form W8BENE or CAA 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.

Please visit our website for FAQ related to ITIN and US Tax Assistance.



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