Preparing Form 1040NR: U.S. Nonresident Alien Income Tax Return

Duration: 60 Minutes
Tax advisors must understand the distinctions between a U.S. resident and a non-resident, dual-status or undocumented alien to resolve complex issues when preparing Form 1040NR. Immigration laws and IRS regulations affect tax liability of non-resident aliens and individuals who are not citizens but do reside in the U.S.
Preparing Form 1040NR
Instructor: Stanley I. Foodman
Product ID: 502039
Objectives of the Presentation
  • Determine if an individual is or is not a U.S. tax payer, by tax code and treaty criteria
  • Determine what form an individual should file, Form 1040NR or 1040
  • Distinguish income by source, U.S. or foreign, and by type, that is, U.S. income Effectively Connected Income to the taxpayer (ECI) or income Not Effectively Connected (NEC) to the taxpayer
  • Determine the correct tax treatment of such income
  • Determine how many personal exemptions may be claimed on form 1040NR
Why Should you Attend
Gain critical understanding of the issues faced when filing Form 1040NR. Challenges include taxpayer classification, determination of who should file, non-resident alien election, determination of dual status, how to report income and claim refunds, available deductions and limitations, treatment of spouse and dependents, filing due dates and other common pitfalls.

Areas Covered
  • Form 1040NR and its Schedules A, NEC and OI
  • Forms 8843, 8840, 8833, 8233 according to a taxpayer's situation
  • Advising taxpayers on avoiding, establishing, or ending tax residency
  • FIRPTA - Foreign Interest in Real Property Tax Act
  • ECI rental income election, Forms W-8ECI and W-8BEN
  • Sales Proceeds and Forms 8288-A and B, 6251
  • Advising taxpayers on avoiding, establishing, or ending tax residency
Who will Benefit
  • Tax and accounting professionals who work with expatriates and their employers on income taxation issues and return preparation
  • Tax Return Preparers
  • Bankers
  • Investment Advisors
  • U.S. Tax Advisors
$300
Recorded Session for one participant
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Instructor Profile:
Stanley I. Foodman is the CEO of Foodman CPAs & Advisors, and a recognized and respected forensic accounting and litigation support practitioner. Specializing in complex international and domestic tax matters, he has served as an expert witness and forensic accountant for some of the nation's most challenging, high-profile economic crime cases. He and his team of accountants also assist clients with a full range of accounting matters including compliance, voluntary disclosure, corporate and individual taxation, estate and trust tax and wealth planning.

Mr. Foodman is a former auxiliary special agent for the Florida Department of Law Enforcement with specialization in economic crime - money laundering, bank fraud, public corruption and discovery of hidden assets. He is also a former consultant to the Miami office of the U.S. Attorney for civil RICO money laundering recoveries.

He is an active member of the civic and charitable community focusing on education, legal and social justice and economic development.
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