IRS Clarifies Temporary ITIN Application Requirements

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Effective Oct. 2, 2012, the IRS implemented two separate clarifying changes to its temporary procedures for issuing Individual Taxpayer Identification Numbers (ITINs). First, the IRS will allow individuals studying in the United States under the Student Exchange Visitors Program (SEVP) to get ITINs under a streamlined procedure. SEVP participants already provide documentation to the Department of Homeland Security under the … Read More

Additional 2 Month Extension

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In addition to the 6-month extension, taxpayers who are out of the country (as defined in he form 4868 instructions) can request a discretionary 2-month additional extension of time to file their returns (to December 15 for calendar year taxpayers). To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 … Read More

Affordable Healthcare Act & Dutch 30% Ruling

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July News Letter Happy Birthday USA.  Enjoy your holiday but remember to be safe and thank a veteran. Below is a list of hot tax topics.  We hope you find the information helpful and useful. US – AFFORDABLE CARE ACT (ACA) (aka OBAMA CARE) This past Thursday, June 28, 2012, the Supreme Court upheld the individual mandate of ObamaCare.  Therefore, … Read More

Illegals Using ITINs for Child Tax Credits

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Attached is a link to an investigative news story out of Indiana. The story is about how some of our neighbors from the south have figured out how to scam the US Tax system and steal the child tax credits for children that are not even living in the US. I would argue that the individual that assisted these taxpayers … Read More

IRS Updates -Foreign Persons Receiving Rental Income From U.S. Real Property


U.S. real estate professionals and rental agents/property managers are encountering an increasing number of situations that involve foreign persons? acquiring U.S. real estate as a part-time residence, for investment or in some cases to conduct a U.S. business. Read more here –