U.S. Source Income

U.S. Source Income

Personal income earned inside the United States. As with most other countries, U.S. source income is taxable in the United States.
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corporations, including foreign corporations with U.S. source income and
IS THE TAX CUTS AND JOBS ACT GILTI OF ANTI-SIMPLIFICATION?
is taxed only on U.S. source income, less a few deductions.
The season for snowbirds: warm up & don't heat up
(15) The corporation is also responsible for filing the related Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, even if backup withholding does not apply.
The receipt and redemption of rewards program points: Tax and reporting implications
Options include making a domestic voluntary disclosure to report previously unreported U.S. source income or entering the Offshore Voluntary Disclosure Program (OVDP) to report unreported non-U.S.
Filing requirements for expatriating taxpayers
Withholding taxes on this income rose by 21.0 percent to $10.8 billion in 2012, although almost 90 percent of all U.S. source income paid to foreign persons was exempt from withholding tax.
Foreign recipients of U.S. income, 2012
The current practice of allowing refunds or credits based on the amount reported as withheld on Form 1042-S, Foreign Persons U.S. Source Income Subject to Withholding, presents the risk that refunds or credits may be improperly granted for fictitious withholding or amounts that have not been deposited.
IRS to limit refunds and credits of foreign withholding payments: refunds of tax withheld under Chapters 3 and 4 will be limited to the amounts actually deposited
(7) Any U.S. source income earned by the CFC will either be subject to U.S.
Tax planning for cross-border endorsement payments to professional U.S. athletes
ownership; and withhold and pay over to the IRS 30-percent of any payments of U.S. source income, as well as gross proceeds from the sale of securities that generate U.S.
Arab banks mull repercussions of US FATCA law
withholding tax on U.S. source income, including dividends, interest, and rents and proceeds from the sales of U.S.
A new withholding tax created
* Gains recognized by a foreign investor on the receipt of death benefits under a life insurance contract are U.S. source income if both the insured and the insurer are U.S.
IRS addresses secondary market for life insurance
companies to foreign vendors and capital providers often are U.S. source income. The Internal Revenue Code categorizes payments as U.S.
Sourcing income withholding on payments to foreign vendors
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