A nonresident who fails to submit a timely filed income tax return, loses the ability to claim deductions and credits against his income, including rental income, causing the gross rents to be subject to the 30 percent tax. Contact us…
YES!!! In Rev. Proc. 2020-20, the IRS provided relief to affected foreign citizens living in the United States. The Service will presume that up to 60 consecutive calendar days of their U.S. presence arises from COVID-19 travel disruptions and will…
READY TO FILE YOUR COMPANY’S TAX RETURN ON TIME? REMEMBER, DEPENDING ON THE TYPE OF ENTITY YOU HAVE, IT NEEDS TO FILE AN INCOME TAX RETURN ON OR BEFORE MARCH 15 TH , 2021 (FOR LLC’S AND S CORPORATIONS) OR…