IRS WILL TARGET FOREIGN INVESTORS IN US REAL ESTATE - NOT REPORTING RENTAL INCOME AND SALES

US Nonresidents who own US rental real estate and sell US real properties are the now a target of IRS

audits and investigations.  If you fit in that category and  have failed to report your real estate income  on form1040NR you may soon be in trouble with the Internal Revenue Service and the tax bureau of the state in which the property is located. Penalties and interest can be large so it is now time to catch up quickly before you get caught.  The IRS generally has a policy that if you come forward first and make up for your previous failure to file returns and pay taxes before they find you to be kinder than if they find you first.

Remember you must report and file returns on your US real estate income whether or not you made a profit on the rental or sale.

READ ABOUT THE IRS PROGRAM TARGETING NONREDISDENT REAL ESTATE OWNERS HERE   If you are a nonresident and need help filing current and past US tax returns to report your income and expenses from US real property we can help.  We are US CPAs and  US Attorneys with over 30 years expertise. Contact us at www.taxmeless.com or ddnelson@gmail.com.

US NONRESIDENT TAX CONSULTATION AND ANSWERS FROM US ATTORNEY AND CPAS

A "MINI CONSULTATION" IS NOW AVAILABLE: If you have specific tax questions on your personal situation and need to discuss it with an US expatriate international tax expert, with the protection of  Attorney-Client privilege, you can request a "Mini Consultation."   "Mini Consultation" costs a minimum of $300 US for up to 30 minutes of Mr. Nelson's professional legal tax advice over the phone, skype or email.  No need to visit his office. 

If  you send us an outline of your situation, facts and questions in advance, we prepare in advance and this time is extremely productive and usually resolves all of your questions  within the time allowed.  We know Form 1040NR and its filing requirements as well as taxation of nonresidents of all states in the US.

 And remember as a CPA firm we can also prepare the returns, forms, and amended returns to solve your tax problem.  We are a one stop solution.

 Over 900 U.S. expat taxpayers located everywhere in the world  have used "Mini Consultations" to resolve their tax problems and issues.

  US Phone (949) 480-1235. US Fax (949) 606-9627 or we can talk on my skype address dondnelson. Email:ddnelson@gmail.com  Whatsapp No. (818) 519-9219 (US)

 Payment can easily be made by credit card, paypal, check, echeck or wire transfer. If your questions or problems are URGENT let us know and we can often schedule it on the same day.

When a Nonresident Must Pay Taxes on Their Business Income and US Real Estate Sales

For tax purposes, an alien is an individual who is not a U.S. citizen . Aliens are classified as nonresident aliens and resident aliens. Publication 519 will help you determine your status

and give you information you will need to file your U.S. tax return. Green card holders are considered the same as citizens in most circumstances and normally must file the Form 1040 as a would a citizen.

Many nonresidents are sellling products through Amazon or other on line companies and due to inventories, etc. would be deemed as subject to US  income tax on their Sales through this companies.   These rules apply even though the nonresident may not have an permanent business establishment in the US.  If the nonresident has a US Agent this can sometimes cause them to be deemed to have a tax situs in the US.

Nonresidents are taxable on their sales of US real properties. Also should the nonresident individual owner die, the value of the US properties are subject to US estate taxes if the fair market value of the property of the date of death exceeds $60,000.  There are tax strategies available to avoid the US estate tax.

US Interest and Dividend income is usually taxable to nonresidents, though US capital gains from the sale of US stocks in the stock market are not taxable.

If you are a US nonresident who wishs to do business in the US, sell products, buy US real estate and rent US real estate we can help you plan the best tax strategies.  We are US attorneys and CPAs that specialize in US nonresident taxation. EMAIL US

If you are a US nonresident that needs to file their US income tax return for 2019 or earlier years, we can prepare that return to provide you with the optimum tax results. DOWNLOAD OUR TAX QUESTIONNAIRE AND RETURN TO US FOR A FEE QUOTE