July – 2020

Have you done business in a foreign country because of COVID-19?

The COVID-19 pandemic has limited the ability of many people to travel freely and, in some cases, return to the United States. In Revenue Procedure 2020-30, the IRS recently provided relief to U.S. persons who temporarily did business in foreign countries because of the crisis. This article discusses details related to the Revenue Procedure.

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FAQs on claiming medical condition or travel exceptions to the substantial presence test

The IRS recently issued frequently asked questions (FAQs) for nonresident aliens who wish to avail themselves of the Medical Condition Exception or the Medical Condition Travel Exception to the substantial presence test. Under this test, nonresident aliens are taxed as U.S. residents. This article covers five FAQs that clarify key issues related to submitting a claim.

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Countries with 2020 nonresident alien interest reporting requirements

In Revenue Procedure 2020-15, the IRS recently updated two lists of countries with which the United States has in effect an agreement that requires payors to report certain deposit interest paid to nonresident alien individuals who are residents of the other country. One list is of countries with which the United States has in effect an income tax or other treaty or a bilateral agreement; the other is of countries with which the IRS has determined that an automatic exchange of information is appropriate.

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