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New ITIN Application Requirements

In the past when applying for an Individual Tax Identification Number (ITIN), applicants could send notarized copies of supporting documentation, such as their passport or birth certificate, with their...

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New Favorable Private Letter Ruling for a U.S. Taxpayer with A Bank Trust in...

The IRS announced, by issue of a private letter ruling (PLR) on July 30, 2012, that a fideicomiso or Mexican Land Trust (“MLT”) is not a trust within the meaning of Regulation 301.7701-4(a). This...

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New Reporting Requirements for Nonresident Alien Deposit Interest

Historically, the IRS has not required the reporting of bank deposit interest when earned by nonresident aliens and nonresident aliens have not been subject to U.S. tax on this income.  The government...

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New ID Number Requirement on Forms 5471, 8858, and 8865

An Employer Identification Number (EIN) has always been an optional entry on forms 5471, 8858, and 8865.  However, the IRS has implemented a new form of identification number on these forms called a...

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New ITIN Policy Change for 2013

Foreign taxpayers applying for an Individual Taxpayer Identification Number (ITIN) were hit with some strict application requirements during 2012.  The IRS began to demand original identification...

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Doing Business in Italy

Below are some typical questions that may arise when a business owner is considering expanding operations into Italy. Please be advised the Q&A summary below is intended for general use only and...

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Doing Business in Russia

Below are some typical questions that may arise when a business owner is considering expanding operations into Russia. Please be advised the Q&A summary below is intended for general use only and...

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IRS Wants to Know Your Thoughts on Form 8838

Many of us would jump at the chance to give the IRS a piece of our minds, especially if we don’t have to wait on hold for a seemingly endless amount of time.  Well, now is your chance, sort of.  The...

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Six Tips for Taxpayers with Foreign Income

U.S. citizens or residents who live and work in a foreign country still have tax return filing responsibilities in the U.S. even if all income is earned outside of the U.S.  A federal income tax return...

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ITIN mandatory renewal starts in 2017

The IRS has put into place mandatory renewal of Individual Taxpayer Identification Numbers (ITINs) for certain taxpayers beginning in 2017. An exception to this rule – taxpayers who only use an ITIN on...

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