Tax and Legal
EIN Application Fee: How Much Does EIN Cost?
More than 21 million LLCs are registered and operating in the United States. The industries they operate, the way they are formed, and the number of people they employ might all be different. Still, they all have at least one thing in common — to open a business bank account, they all need to get […]
US Source Income vs Foreign Income: Main Differences and Examples
The US tax code contains a lot of provisions that regulate how and when international entities (individuals or businesses) must pay taxes in the US. One of the most important things that can determine who or what is subject to US tax laws is the exact source of income, or rather, whether the money that’s […]
How to Get an ITIN Number: Guide for Foreigners
According to the most recent IRS estimates, more than 20 million ITIN numbers are in circulation. Their primary use is to allow nonresidents or people who are not eligible to get an SSN to pay US taxes. If you are one of them and are looking to figure out how to get ITIN number for […]
5472 Form: A Short Guide With Examples
Every tax season, thousands of US-registered foreign-owned companies (and presumably their owners or accounting departments) are carefully looking through the US tax code to figure out which exact tax forms they need to file or risk the full might of the IRS. One of those forms that regularly comes up is the 5472 form. In […]
Who Has to File 1040NR?
The US is famously open to foreigners, attracting a lot of foreign investment in real estate, finance and insurance, wholesale trade, and many other industries. These tens of millions of people from different countries, apart from investing and earning income in the US, have another thing in common — all of them have to file […]
1040 vs 1040NR: Main Differences and Which Form to File
Every year, the IRS deals with more than 165 million individual tax returns. And this year doesn’t seem like it will be different. The 2023 US tax season, just like any other before it, brings a lot of stress to many people worldwide. With so many different forms, exemptions, deductions, and credits you can file, […]
Physical Presence Test for US Expats: Guide and Examples
The most recent estimates show that there are a bit more than 5 million US citizens living abroad. Almost 4 million are civilians, while the rest are US service members and other government officials. Although they all might be living in different countries, they have something in common (apart from being US citizens and that […]
United States Travel History: I94 Form and How to Check It Online
There are a couple of different reasons why you would want to know your travel history in the United States, which brings us to the travel history I94 form. You might be a foreigner with a US-based income and are looking to calculate your days of presence for the Substantial Presence Test so you can […]
Substantial Presence Test Calculator for Tax Year 2023
The 2024 Tax season in the US is already underway. The filing season for individual tax returns started on the 29th of January, with the due date for filing them or requesting an extension being the 15th of April for the majority of the US states. This means that, right about now, there are a […]
Why EIN Matters: 9 Things You Can Do With Your EIN
Not that long ago, we explained in detail what an EIN is, why nonresident investors need it, and how non-US citizens can get one. Today, we’re going deeper into the topic of why exactly you might want to get it and what is an EIN number used for, by explaining the benefits that come with […]