11
votes
Federal income tax as nonresident alien working outside of USA remotely for US employer
Is it possible to get refund for all federal tax withheld (including FICA taxes) and how should I file tax refund for 2023? (currently not paying tax to home country)
You can potentially get refund ...
- 184k
11
votes
Accepted
In need of an official opinion from the IRS on my controversial tax case-what's the best method?
You have attorneys, plural, advising you. What makes you think random people on the Internet know better? PLR is used before actions are taken, for planning. If the actions were already taken - file a ...
- 184k
10
votes
Accepted
tax filing obligations for class action settlement income of under 10$ (non-resident alien)
While it is true that there's no minimum amount on filing tax returns and the $10 is in fact taxable income, I'd say you're being overly cautious. No-one is going to chase you for taxes on $10, and ...
- 184k
8
votes
Accepted
Is it possible to trade in UK's investment ISA after moving abroad?
After doing some more digging I figured there are two parts of this problem:
Being able to use the UK investment ISA after moving abroad.
Taxing the profits from investments.
Re. 1: It was very ...
- 261
7
votes
Accepted
Can IRS ignore my protective form and come back years later and slap me with late payment
Can IRS simply ignore my request for a couple of years and then come back to me and say that they disagree with my position and impose late payment penalties for the whole period?
Yes, they can. You ...
- 184k
6
votes
Have I committed a crime by not declaring a salary in India while working as an NRI?
I haven't ever declared that I'm residing abroad and in Europe
There is no declaration you need to make in India that you are Non-Resident. You acquire the status once you are out for more than 182 ...
- 57.2k
6
votes
How does the bank/IRS know whether a bank transfer over $14k is a gift or loan repayment?
You don't need to file or do anything.
The bank will report all transfers over 10 000, but chances are slim that it will even be looked at, if you don't do this every week. Worst case, someone will ...
- 38k
6
votes
Accepted
How to invest money in the US for an alien friend?
You are likely to find that acting as an agent to invest other people's money for them and return them an income is a regulated activity.
If so, it could be extremely burdensome for you to meet all ...
- 4,243
6
votes
In the UK is it illegal for banks to open current accounts for non-residents/tourists?
UK banks are permitted to open accounts to non-residents. Whether resident or not, you will need to prove your identity in order to open a bank account.
Your local bank may even be able to handle ...
- 5,105
6
votes
I'm a resident of Monaco and my future wife is a US citizen and resident. Will I have tax obligations once married?
No, so long as you remain a non-resident, you will not need to file a US tax return. Your wife will need to continue to file either as Married Filing Separately or, possibly, as Head of Household:
...
- 3,652
6
votes
Accepted
UK tax for partial residents
The short answer is that I am a UK tax resident for 2019-2020. I pass the so-called "sufficient ties" test, but oh boy, there are so many nuances to this that it makes my brain melt. Buckle up!
Tests
...
- 1,307
5
votes
Accepted
U.S. nonresident alien: Is my state tax refund taxable?
Federal income tax refunds received during 2016 are not taxable income for 2016 (or any other year) on either the Federal or the State tax return.
The State income tax refund for 2015 received during ...
- 31.7k
5
votes
My employer is refunding incorrectly witheld FICA. Do I need to wait for W-2c to file?
Whether or not Social Security and Medicare taxes are withheld from your pay, what you need for filing your Federal income tax return are the amounts in Box 1 (Wages, tips,...) and Box 2 (Federal ...
- 31.7k
5
votes
Non-resident alien tax
Once she became a US permanent resident, she continues to meet the Green Card Test (and thus be a resident alien for US tax purposes) until either she becomes a citizen, she voluntarily signs a form ...
- 17.5k
5
votes
Bank asking first transfer to be a wire transfer to NRE account
They are asking me that my first fund should be transferred directly from my US bank account (possibly through wire transfer).
The FEMA rule is that transfers into an NRE account should be from ...
- 57.2k
5
votes
Accepted
Wealth Transfer Tax in UK
The UK doesn't tax money transfers themselves at all, either transferring into or out of the UK. You also shouldn't be charged any taxes on any interest on the savings as you won't be resident.
You ...
- 30.2k
5
votes
$0.30 1099 tax form received, should I ignore it?
The 1099-INT form is not saying that any withholding was done. It is simply a notification to you as to how much interest you earned that year (hence -INT), so you may fill out your tax forms ...
5
votes
Why does Charles Schwab require a large minimum deposit to open an international brokerage account?
While it's not possible for me to know why exactly Schwab or any brokerage would set minimum initial deposits, they are entitled to do so. Being a non US resident, you don't have the same consumer ...
- 479
5
votes
Accepted
Will my taxes be increased after receiving green card?
Will my taxes be increased after receiving green card?
Typically, no. However, there'll be a few changes in your tax forms, e.g. nonresident aliens are exempt from FBAR while resident aliens are not, ...
- 11.5k
5
votes
Can I buy bonds from TreasuryDirect if I claim to be a non-resident when filing my taxes?
No, you're not a US Person. The TreasuryDirect checkbox is akin to filing a W9 (and in fact serves as W9). You cannot file that certification.
- 184k
5
votes
Accepted
How does moving overseas affect UK state pension and can you continue paying into it from abroad?
Yes - you can make voluntary national insurance contributions.
The current rates are either £3.45/week ("Class 2") or £17.45/week ("Class 3"), which is quite a big difference. In ...
- 30.2k
5
votes
How to mitigate risk of having cash with you when abroad, how to move it across countries while minimizing its time physically on your person?
The simplest answer is "don't". Folks used to solve this with travelers' checks. These days credit cards are the easiest solution, and if you need cash it's often possible to make a ...
- 51.4k
4
votes
How do I minimize taxes when transferring money to my wife and child?
Assuming United States; rules may be wildly different elsewhere...
The "family loan" trick essentially lets you amortize a gift over multiple years of gift allowance and hopefully dodge gift tax, at ...
- 51.4k
4
votes
Accepted
What happens to bank account of non-resident alien who falls out of status?
Nothing happens. A bank is a business; your relationship with the bank doesn't change because your visa or immigration status changes. Money held in the account is still held in the account. Interest ...
- 51.4k
4
votes
Federal taxes for nonresident alien whose only income in 2016 was a 2015 state tax return
I believe you have to file a tax return, because state tax refund is considered income effectively connected with US trade or business, and the 1040NR instructions section "Who Must File" includes ...
- 17.5k
4
votes
Germany Tax Question - Non-Resident and not employed in Germany
No you won't.
Germany taxes income, not bank accounts. Note that this changes immediately when your bank account makes interest - you will owe taxes on this interest.
However, chances are you won't ...
- 38k
4
votes
In the U.S as F1-visa student, I used TurboTax and filled the wrong form twice
To start with, I should mention that many tax preparation companies will give you any number of free consultations on tax issues — they will only charge you if you use their services to file a tax ...
- 153
4
votes
Accepted
Not reporting very small income on my U.S. account while I live abroad
If your gross income is only $3000, then you don't need to file:
https://www.irs.gov/pub/irs-pdf/p501.pdf
That said, pay careful attention to:
https://www.irs.gov/individuals/international-...
- 1,379
4
votes
Accepted
Should I submit a tax declaration if I've been working in USA only about 30 days in total?
There is no such thing as a tax declaration in US tax law; the declaration is part of the tax return which you need to file for the income that you earned in January and February of 2017 -- this ...
- 31.7k
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