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Income Tax for Domestic Corporations

Posted on October 23, 2012

A foreign business which incorporates in the US and US corporate subsidiaries of foreign businesses are US Persons for US tax purposes subject to US income tax on a worldwide basis. Corporations generally file a corporate tax return, such as Form 1120 “U.S. Corporation Income Tax Return” with the IRS. In general, the income of […]

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Individual Income Tax for Tax Residents

Posted on October 23, 2012

Generally, a foreign individual who is or becomes a US Person for US tax purposes must file an individual tax return, such as Form 1040 “U.S. Individual Income Tax Return” with the Internal Revenue Service (IRS). He or she will report and be taxed on worldwide income, after allowable exclusions, exemptions and deductions. Tax rates […]

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