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Do You Need an Individual Taxpayer Identification Number (ITIN)?

If you do not have a Social Security Number (SSN) and are not eligible to obtain a SSN, but you are required to provide a tax identification number (TIN) to file a U.S. Federal income tax return, be claimed as

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Posted in Alien, ITIN

Virtual Currency Tax Implications – IRS Notice 2014-21

The question of the moment is whether virtual currency is here to stay or simply a passing fad, the 8-track player of modern day finance.  IMHO the answer is probably a little of both. For sure private money is here

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Posted in Business Income, Capital Gain, Capital Loss, Self Employ, Virtual Currency

Foreign Income Reporting IRS Publication 515

IRS Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities, includes a table of income source rules, including pay for personal services, interest, rents, royalties, income from natural resources, scholarship and fellowship grants, and guarantees of indebtedness. I must write from experience

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Posted in Foreign Income
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