Myth: If I earn money abroad, the IRS doesn’t care. Fact: US tax law often requires disclosure of worldwide income and foreign accounts—even for non-citizens and residents. Failure to report can result in severe penalties, even if accidental. Have foreign income? Schedule a consult to clarify your obligations. #TaxMythMonday #ForeignIncome #TaxCompliance #IRS #SiriusTaxGroup

As tax professionals, we are bound by Circular 230 to uphold the highest standards of ethics and due diligence. This means: - Verifying client information, never making assumptions - Documenting every step and keeping clear records - Refusing shortcuts, even under pressure - Prioritizing client interests while maintaining compliance Ethical practice isn’t just a regulatory requirement—it’s the foundation of trust with every client. At Sirius Tax Group, we lead by example, ensuring every return is accurate and every client is treated with respect. #SiriuslySpeaking #TheITINLady #SiriusTaxAdvisor #DueDiligence #Circular230 #TaxEthics #TaxProfessionals #Compliance #IRS #TaxSeason #Integrity #Trust #SilverSpring #InternationalTax #WomenInBusiness #Leadership #Professionalism #TaxTips #TaxCompliance #Ethics #TaxLaw #SmallBusiness #Entrepreneurship #Accountability #TaxAdvisor #TaxPreparer #ExpertAdvice

What sets a Certifying Acceptance Agent apart? It’s more than paperwork—it’s about trust, expertise, and understanding the unique needs of international clients. My Tax Advisor Training dives deep into the real-world scenarios you’ll face, from complex IRS documentation to cultural nuances that matter in every client interaction. If you’re ready to enhance your skills and reputation as a go-to advisor, discover how our training can transform your practice. Contact us today for more information. Sydney R. Smith MBA CAA Sirius Tax Group Serving a Global Clientele with Excellence #SiriuslySpeaking #TheITINLady #SiriusTaxAdvisor #TaxAdvisorTraining #CertifyingAcceptanceAgent #TaxEducation #ITIN #IRS #Compliance #InternationalTax #ProfessionalDevelopment #WomenInBusiness #SmallBusiness #TaxPro #Leadership #TaxTips

Recently, I had the privilege of assisting a family from Pakistan navigating the U.S. tax system. The primary taxpayer was in the U.S.; the spouse remained overseas. Their goal: obtain an ITIN for the spouse and file jointly under IRC §6013(g). Key steps included: - Conducting a secure Skype interview with the overseas spouse - Collecting and verifying foreign wage documentation - Converting pay cycles and currency to align with IRS requirements - Supporting the IRC §6013(g) election for joint filing The result? IRS approval of the spouse's ITIN with zero delays. The couple filed jointly, maximizing their tax benefits and ensuring full compliance. This case demonstrates the power of culturally informed, detail-driven tax support—no matter where in the world our clients reside. Sydney R. Smith MBA CAA Sirius Tax Group Serving a Global Clientele with Excellence #SiriuslySpeaking #TheITINLady #InternationalTax #ITIN #IRS #TaxCompliance #GlobalClients #TaxAdvisor #CertifiedAcceptanceAgent #Expats #USATax #Pakistan #CrossBorder #TaxSuccess #SiriusTaxGroup

The IRS reporting requirements for foreign nationals are determined by their tax residency status, which is different from their immigration status. The two main categories are Resident Aliens and Non-Resident Aliens. Your tax obligations, including which forms you must file and what income you must report, depend on which category you fall into. DETERMINING YOUR TAX STATUS: RESIDENT VS NON-RESIDENT ALIEN You are considered a Resident Alien for tax purposes if you meet either the "Green Card Test" or the "Substantial Presence Test" for the calendar year. Otherwise, you are a Non-Resident Alien. COMMON REPORTING REQUIREMENTS BY TAX STATUS Resident Aliens Resident aliens are generally treated the same as U.S. citizens for tax purposes. Non-Resident Aliens Non-resident aliens are taxed differently and have more limited reporting obligations. Dual-Status Aliens If your tax status changes during the year (for example, you were a non-resident alien and then became a resident alien), you are considered a "dual-status alien". You will file a single return that reports your income for each period separately. This typically involves filing Form 1040-NR for the non-resident portion of the year and Form 1040 for the resident portion, or a combined "dual-status return" as instructed by the IRS. OTHER KEY REPORTING REQUIREMENTS Regardless of alien status, other common reporting requirements may apply. Read our complete blog post here: https://siriustaxgroup.com/irs-reporting-requirements-for-foreign-nationals/ #SiriuslySpeaking #SiriusBusiness #SiriusTaxAdvisor #TaxStrategies #BusinessStrategies #GlobalBusiness #InternationalTax #ForeignTax #ForeignIncome #TheITINLady #ITIN #CertifiedAcceptanceAgent #CAA #FBAR #FATCA #FinCEN #VisaBusinessPlans #USCIS