Two New Tax Resources Available to Members for Tax Season

CPA Letter, The, March, 2008 by Anonymous

The AICPA Practice Guide for Fiduciary/Trust Accounting (www.aicpa.org/tax; "Resources"; "International") addresses filing issues for foreign nationals. Among other things, the checklist covers income, offshore nonresident tax implications, expatriation or termination of residency, and estate and gift tax implications. The questionnaire covers personal information, tax return filings, travel, gifts and allocation of work and non-work days between the U.S. and overseas. The flowchart works through alternative methods of filing the foreign national's first year U.S. return.