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.
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