March 2020

Final regs: Transfers to partnerships with related foreign partners

The IRS recently issued final regulations that address transfers of appreciated property by U.S. persons to partnerships that have partners who are related foreign persons (that is, foreign persons related to the transferor). This article covers pertinent issues addressed by the regs, including the definition of a related party and technical terminations. A sidebar looks at how the regs affect accidental partnerships.

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IRS updates instructions for nonresident aliens completing Form W-4

The IRS recently updated Notice 1392, Supplemental Form W-4 Instructions for Nonresident Aliens. This article provides details on the changes, including which steps on Form W-4 warrant attention.

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Certifying acceptance agents can't verify foreign military ID cards

The IRS has revised the instructions for Form W-7, Application for IRS Individual Taxpayer Identification Number. This brief article explains that the revision focuses on a newly added or emphasized exception of foreign military identification cards.

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