What will happen I don’t file resident and non resident tax returns? This question was asked by some of our clients who are foreign nationals. What are the consequences of a failure to file resident and non resident tax returns? Let’s review several possible scenarios. If you don’t file,...
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USA Tax Return: Resident and Non Resident Alien Status
Resident and Non Resident Alien for USA tax return purposes? This definition is quite confusing to many foreign nationals who reside or plan to live in the USA. This is a story of one of our clients. “Lishmi came to the USA 1 year ago to join his family. He...
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Overseas Taxes: The IRS has changed FATCA timeline
If you have not heard about FATCA and how it affects your return on overseas taxes, read What is FATCA. FATCA was included as a part of HIRE ACT of 2010. The main purpose of FATCA is to combat international tax evasion. FATCA requires foreign financial institutions, including hedge funds,...
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Expatriate Tax Preparation: Overview of Tax Documents
Expatriate tax preparation can be a very stressful process for US taxpayers. At Artio Partners our goal is to make the process of expat tax filing easy and simple. To facilitate this process, we created a basic list of documents that American expatriates should have to feel confident and prepared....
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FBARs and Non-Resident Indian Accounts
What is FBAR? Does my Nonresident Indian Account have anything to do with FBARs? Should I report my NRO on expatriate tax returns? We reviewed earlier the definition of FBARs (please see What is FBAR). Now let’s talk about Indian Nonresident Accounts. Let’s review the case of Arvind Ahuja, a...
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