Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application ...

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...

All foreign suppliers new to UB are required to submit a completed W-8 tax ID form and an Order Preferences, Sourcing & Contact form to Procurement Services as confirmation of their business identity.

Foreign investors should carefully analyze tax implications and strategies before investing in the growing U.S. market for ...

For individuals and businesses with foreign financial accounts, strict adherence to FBAR reporting rules is essential, and ...

The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.

California has a high corporate tax rate and strict rules, but its large market and strong economy can benefit some ...

For international students/scholars/employees receiving source income from Northwestern University (including wages and fellowship/scholarship funds). OISS collaborates with the Foreign National Tax ...

A Bollywood actor wins a major tax case on Foreign Tax Credit (FTC). Learn how FTC works, key legal takeaways, and how to ...

Form 8843 is not a U.S. income tax return. It is an informational statement required by the IRS for nonresidents for tax purposes. It should be filled out for every nonresident present in the U.S. for ...

On January 30, 2025, a bipartisan group of US Senators released a discussion draft of the Taxpayer Assistance and Service Act (“TAS Act”), ...

In its ruling, the ITAT Pune concluded that the provisions of Rule 128 (9) are directory, not mandatory, aligning with judicial precedents emphasizing the supremacy of DTAA provisions in cases of ...