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

Nonresident alien clients who have U.S. source income will need your assistance filing Form 1040NR, U.S. Nonresident Alien Income Tax Return, a form with numerous complex requirements that demands careful analysis of the taxpayer's circumstances.

Learn the fundamentals of filing the very complicated Form 1040NR in this convenient two-hour CPE webinar with noted international tax expert Carolyn Turnbull, CPA, M.S.T. Ms. Turnbull will provide a practical review of the basic tax concepts affecting nonresident aliens in the U.S. and will describe how to address common problems in the preparation of their 1040NR returns.

To reinforce your understanding and get help on your most pressing issues, you will have opportunities to ask questions directly to Ms. Turnbull during the program.

Who Should Attend
Tax and accounting professionals responsible for cross-border tax compliance and planning as well as CPAs, EAs, tax attorneys and other financial and wealth management advisors working with clients on international tax compliance and planning matters

Topics Covered

• "Resident alien" versus "nonresident alien" and why the distinction is important
• The role and application of relevant tax treaties
• IRS forms and publications related to non-U.S. citizens living in the United States
• 1040NR versus 1040NR-EZ
• The purpose and structure of Form 1040NR
• Filing due dates
• Determining filing status
• Dual-status taxpayers
• The treatment of spouses and dependents
• Important elections
• Income subject to tax
• Treatment of Effectively Connected Income (ECI) and Fixed, Determinable, Annual, Periodical (FDAP) Income
• The deductions available and limitations
• Penalties for failing to file
• Common problem areas and mistakes to avoid

Learning Objectives

• Gain a practical understanding of the taxation of nonresident aliens living in the United States
• Understand the filing requirements, parts and schedules for the Form 1040NR
• Know how to compute taxable income for a nonresident alien
• Prepare accurate Form 1040NRs

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic knowledge of U.S. international taxation principles

Advance Preparation
None