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Home Interest Areas Tax Resources International Tax

International Tax

International Tax Planning Resources 

This section covers international taxation and reporting issues. It contains articles, tools and practice aids, as well as comment letters pertaining to legislative matters and IRS regulation and administration. 

TOP NEWS NOW

  • AICPA submits request for exemption from filing Form 8621 for certain PFICs - may 2013 
  • IRS issues changes to Form 5471 and 8621 instructions

Practice Support 

  • Form 5472 Practice Guide - developed to help practitioners  complete Form 5472 as well as a questionnaire to help determine which transactions to report on Form 5472.

 

  • Tools to assist practitioners prepare 2011 individual income tax returns for  foreign nationals with U.S. income tax implications, specifically Form 1040NR, U.S. Nonresident Alien Income Tax Return, the dual-status Form 1040/Form 1040NR Individual Income Tax Return, or the Form 1040 resident Individual Income Tax Return.  The tools include: 1) a Questionnaire for the non-resident alien (NRA) to fill out to provide data to the tax preparer; 2) a Checklist for Form 1040NR; and 3) A Flowchart to assist for the first year that a foreign national is in the U.S.

 

 

     

 

       

    

Access to additional tools and aids.

Advocacy 

Reporting Foreign Accounts and Assets – FBAR and Form 8938
In fall 2011, two of our members sat down to discuss their concerns, the concerns of their clients, and the steps they are taking to address both sets of rules regarding the 2011 reporting of foreign accounts and assets on Form TD F 90-22.1 (FBAR) and new Form 8938.

 

 

 

Access to additional advocacy documents.

Access information on the AICPA's International Taxation Technical Resource Panel and its task forces.

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