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Form 8840 online Philadelphia Pennsylvania: What You Should Know
S. Federal Income Tax. As a shareholder and a taxpayer, Jen has a special interest in the tax and regulatory aspects of U.S. corporate citizenship, tax compliance and corporate governance in general. If your company faces tax and financial penalties, the penalties and interest will be high, and you won't get the money you deserve. She is an expert contributor to Forbes Magazine, the Center for American Progress and The Tax Foundation. Jennifer works with clients all over the world at tax law firms, the Department of Justice and other government agencies. She is also a frequent guest lecturer and a featured jurist on the “Determining Tax Liability in Corporate Transfers” podcast series with “Tax Notes.” Jennifer Duval-Lindy is an active member of the Institute for Policy Studies, a member of the Tax Institute, a member of the Institute for Global Corporate Compliance & Compliance Management (COMM), and a Director of the U.S. Chamber Institute for Legal Reform & Appellate Practice. To read the full article, please click here. A note from Jennifer: I know there is a lot of confusion about this and a lot of confusion from the media about what it is and what it entails. For starters, closer connection is not a “get out of taxes free” card.... I'm not suggesting people get out, by any means. You will still be taxed on your worldwide assets. You will still be subject to income tax. The closer connection exception to the substantial presence test only applies to shareholders and U.S. tax residents, or their beneficiaries. What the closer connection exception does is take the place of, or give a reason for, the failure to report the foreign accrual properties tax. Let me walk you through it, and I'll make it easy for you. First consider your U.S. income tax liabilities, to include your gross income, foreign income...the list goes on. What do you need to have? If you're a nonresident alien, then you don't want to know. You're going to pay more to tax authorities than you do in your paycheck. Here's the thing, we're looking at the rules, and you have to follow them. How much (if any) you need to report depends on how much you're expected to pay in tax. Are you a U.S.
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