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File 2009 Tax Return

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File 2009 Tax Return

File 2009 tax return 4. File 2009 tax return   How Income of Aliens Is Taxed Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Resident Aliens Nonresident AliensTrade or Business in the United States Effectively Connected Income The 30% Tax Income From Real Property Transportation Tax Interrupted Period of Residence Expatriation TaxExpatriation Before June 4, 2004 Expatriation After June 3, 2004, and Before June 17, 2008 Expatriation After June 16, 2008 Introduction Resident and nonresident aliens are taxed in different ways. File 2009 tax return Resident aliens are generally taxed in the same way as U. File 2009 tax return S. File 2009 tax return citizens. File 2009 tax return Nonresident aliens are taxed based on the source of their income and whether or not their income is effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return The following discussions will help you determine if income you receive during the tax year is effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business and how it is taxed. File 2009 tax return Topics - This chapter discusses: Income that is effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return Income that is not effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return Interrupted period of residence. File 2009 tax return Expatriation tax. File 2009 tax return Useful Items - You may want to see: Publication 544 Sales and Other Dispositions of Assets 1212 List of Original Issue Discount Instruments Form (and Instructions) 6251 Alternative Minimum Tax—Individuals Schedule D (Form 1040) Capital Gains and Losses See chapter 12 for information about getting these publications and forms. File 2009 tax return Resident Aliens Resident aliens are generally taxed in the same way as U. File 2009 tax return S. File 2009 tax return citizens. File 2009 tax return This means that their worldwide income is subject to U. File 2009 tax return S. File 2009 tax return tax and must be reported on their U. File 2009 tax return S. File 2009 tax return tax return. File 2009 tax return Income of resident aliens is subject to the graduated tax rates that apply to U. File 2009 tax return S. File 2009 tax return citizens. File 2009 tax return Resident aliens use the Tax Table or Tax Computation Worksheets located in the Form 1040 instructions, which apply to U. File 2009 tax return S. File 2009 tax return citizens. File 2009 tax return Nonresident Aliens A nonresident alien's income that is subject to U. File 2009 tax return S. File 2009 tax return income tax must be divided into two categories: Income that is effectively connected with a trade or business in the United States, and Income that is not effectively connected with a trade or business in the United States (discussed under The 30% Tax, later). File 2009 tax return The difference between these two categories is that effectively connected income, after allowable deductions, is taxed at graduated rates. File 2009 tax return These are the same rates that apply to U. File 2009 tax return S. File 2009 tax return citizens and residents. File 2009 tax return Income that is not effectively connected is taxed at a flat 30% (or lower treaty) rate. File 2009 tax return If you were formerly a U. File 2009 tax return S. File 2009 tax return citizen or resident alien, these rules may not apply. File 2009 tax return See Expatriation Tax, later, in this chapter. File 2009 tax return Trade or Business in the United States Generally, you must be engaged in a trade or business during the tax year to be able to treat income received in that year as effectively connected with that trade or business. File 2009 tax return Whether you are engaged in a trade or business in the United States depends on the nature of your activities. File 2009 tax return The discussions that follow will help you determine whether you are engaged in a trade or business in the United States. File 2009 tax return Personal Services If you perform personal services in the United States at any time during the tax year, you usually are considered engaged in a trade or business in the United States. File 2009 tax return Certain compensation paid to a nonresident alien by a foreign employer is not included in gross income. File 2009 tax return For more information, see Services Performed for Foreign Employer in chapter 3. File 2009 tax return Other Trade or Business Activities Other examples of being engaged in a trade or business in the United States follow. File 2009 tax return Students and trainees. File 2009 tax return   You are considered engaged in a trade or business in the United States if you are temporarily present in the United States as a nonimmigrant under an “F,” “J,” “M,” or “Q” visa. File 2009 tax return A nonresident alien temporarily present in the United States under a “J” visa includes a nonresident alien individual admitted to the United States as an exchange visitor under the Mutual Educational and Cultural Exchange Act of 1961. File 2009 tax return The taxable part of any scholarship or fellowship grant that is U. File 2009 tax return S. File 2009 tax return source income is treated as effectively connected with a trade or business in the United States. File 2009 tax return Business operations. File 2009 tax return   If you own and operate a business in the United States selling services, products, or merchandise, you are, with certain exceptions, engaged in a trade or business in the United States. File 2009 tax return Partnerships. File 2009 tax return   If you are a member of a partnership that at any time during the tax year is engaged in a trade or business in the United States, you are considered to be engaged in a trade or business in the United States. File 2009 tax return Beneficiary of an estate or trust. File 2009 tax return   If you are the beneficiary of an estate or trust that is engaged in a trade or business in the United States, you are treated as being engaged in the same trade or business. File 2009 tax return Trading in stocks, securities, and commodities. File 2009 tax return   If your only U. File 2009 tax return S. File 2009 tax return business activity is trading in stocks, securities, or commodities (including hedging transactions) through a U. File 2009 tax return S. File 2009 tax return resident broker or other agent, you are not engaged in a trade or business in the United States. File 2009 tax return   For transactions in stocks or securities, this applies to any nonresident alien, including a dealer or broker in stocks and securities. File 2009 tax return   For transactions in commodities, this applies to commodities that are usually traded on an organized commodity exchange and to transactions that are usually carried out at such an exchange. File 2009 tax return   This discussion does not apply if you have a U. File 2009 tax return S. File 2009 tax return office or other fixed place of business at any time during the tax year through which, or by the direction of which, you carry out your transactions in stocks, securities, or commodities. File 2009 tax return Trading for a nonresident alien's own account. File 2009 tax return   You are not engaged in a trade or business in the United States if trading for your own account in stocks, securities, or commodities is your only U. File 2009 tax return S. File 2009 tax return business activity. File 2009 tax return This applies even if the trading takes place while you are present in the United States or is done by your employee or your broker or other agent. File 2009 tax return   This does not apply to trading for your own account if you are a dealer in stocks, securities, or commodities. File 2009 tax return This does not necessarily mean, however, that as a dealer you are considered to be engaged in a trade or business in the United States. File 2009 tax return Determine that based on the facts and circumstances in each case or under the rules given above in Trading in stocks, securities, and commodities . File 2009 tax return Effectively Connected Income If you are engaged in a U. File 2009 tax return S. File 2009 tax return trade or business, all income, gain, or loss for the tax year that you get from sources within the United States (other than certain investment income) is treated as effectively connected income. File 2009 tax return This applies whether or not there is any connection between the income and the trade or business being carried on in the United States during the tax year. File 2009 tax return Two tests, described next under Investment Income, determine whether certain items of investment income (such as interest, dividends, and royalties) are treated as effectively connected with that business. File 2009 tax return In limited circumstances, some kinds of foreign source income may be treated as effectively connected with a trade or business in the United States. File 2009 tax return For a discussion of these rules, see Foreign Income , later. File 2009 tax return Investment Income Investment income from U. File 2009 tax return S. File 2009 tax return sources that may or may not be treated as effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business generally falls into the following three categories. File 2009 tax return Fixed or determinable income (interest, dividends, rents, royalties, premiums, annuities, etc. File 2009 tax return ). File 2009 tax return Gains (some of which are considered capital gains) from the sale or exchange of the following types of property. File 2009 tax return Timber, coal, or domestic iron ore with a retained economic interest. File 2009 tax return Patents, copyrights, and similar property on which you receive contingent payments after October 4, 1966. File 2009 tax return Patents transferred before October 5, 1966. File 2009 tax return Original issue discount obligations. File 2009 tax return Capital gains (and losses). File 2009 tax return Use the two tests, described next, to determine whether an item of U. File 2009 tax return S. File 2009 tax return source income falling in one of the three categories above and received during the tax year is effectively connected with your U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return If the tests indicate that the item of income is effectively connected, you must include it with your other effectively connected income. File 2009 tax return If the item of income is not effectively connected, include it with all other income discussed under The 30% Tax later, in this chapter. File 2009 tax return Asset-use test. File 2009 tax return   This test usually applies to income that is not directly produced by trade or business activities. File 2009 tax return Under this test, if an item of income is from assets (property) used in, or held for use in, the trade or business in the United States, it is considered effectively connected. File 2009 tax return   An asset is used in, or held for use in, the trade or business in the United States if the asset is: Held for the principal purpose of promoting the conduct of a trade or business in the United States, Acquired and held in the ordinary course of the trade or business conducted in the United States (for example, an account receivable or note receivable arising from that trade or business), or Otherwise held to meet the present needs of the trade or business in the United States and not its anticipated future needs. File 2009 tax return Generally, stock of a corporation is not treated as an asset used in, or held for use in, a trade or business in the United States. File 2009 tax return Business-activities test. File 2009 tax return   This test usually applies when income, gain, or loss comes directly from the active conduct of the trade or business. File 2009 tax return The business-activities test is most important when: Dividends or interest are received by a dealer in stocks or securities, Royalties are received in the trade or business of licensing patents or similar property, or Service fees are earned by a servicing business. File 2009 tax return Under this test, if the conduct of the U. File 2009 tax return S. File 2009 tax return trade or business was a material factor in producing the income, the income is considered effectively connected. File 2009 tax return Personal Service Income You usually are engaged in a U. File 2009 tax return S. File 2009 tax return trade or business when you perform personal services in the United States. File 2009 tax return Personal service income you receive in a tax year in which you are engaged in a U. File 2009 tax return S. File 2009 tax return trade or business is effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return Income received in a year other than the year you performed the services is also effectively connected if it would have been effectively connected if received in the year you performed the services. File 2009 tax return Personal service income includes wages, salaries, commissions, fees, per diem allowances, and employee allowances and bonuses. File 2009 tax return The income may be paid to you in the form of cash, services, or property. File 2009 tax return If you are engaged in a U. File 2009 tax return S. File 2009 tax return trade or business only because you perform personal services in the United States during the tax year, income and gains from assets, and gains and losses from the sale or exchange of capital assets are generally not effectively connected with your trade or business. File 2009 tax return However, if there is a direct economic relationship between your holding of the asset and your trade or business of performing personal services, the income, gain, or loss is effectively connected. File 2009 tax return Pensions. File 2009 tax return   If you were a nonresident alien engaged in a U. File 2009 tax return S. File 2009 tax return trade or business after 1986 because you performed personal services in the United States, and you later receive a pension or retirement pay attributable to these services, such payments are effectively connected income in each year you receive them. File 2009 tax return This is true whether or not you are engaged in a U. File 2009 tax return S. File 2009 tax return trade or business in the year you receive the retirement pay. File 2009 tax return Transportation Income Transportation income (defined in chapter 2) is effectively connected if you meet both of the following conditions. File 2009 tax return You had a fixed place of business in the United States involved in earning the income. File 2009 tax return At least 90% of your U. File 2009 tax return S. File 2009 tax return source transportation income is attributable to regularly scheduled transportation. File 2009 tax return “Fixed place of business” generally means a place, site, structure, or other similar facility through which you engage in a trade or business. File 2009 tax return “Regularly scheduled transportation” means that a ship or aircraft follows a published schedule with repeated sailings or flights at regular intervals between the same points for voyages or flights that begin or end in the United States. File 2009 tax return This definition applies to both scheduled and chartered air transportation. File 2009 tax return If you do not meet the two conditions above, the income is not effectively connected and is taxed at a 4% rate. File 2009 tax return See Transportation Tax, later, in this chapter. File 2009 tax return Business Profits and Losses and Sales Transactions All profits or losses from U. File 2009 tax return S. File 2009 tax return sources that are from the operation of a business in the United States are effectively connected with a trade or business in the United States. File 2009 tax return For example, profit from the sale in the United States of inventory property purchased either in this country or in a foreign country is effectively connected trade or business income. File 2009 tax return A share of U. File 2009 tax return S. File 2009 tax return source profits or losses of a partnership that is engaged in a trade or business in the United States is also effectively connected with a trade or business in the United States. File 2009 tax return Real Property Gain or Loss Gains and losses from the sale or exchange of U. File 2009 tax return S. File 2009 tax return real property interests (whether or not they are capital assets) are taxed as if you are engaged in a trade or business in the United States. File 2009 tax return You must treat the gain or loss as effectively connected with that trade or business. File 2009 tax return U. File 2009 tax return S. File 2009 tax return real property interest. File 2009 tax return   This is any interest in real property located in the United States or the U. File 2009 tax return S. File 2009 tax return Virgin Islands or any interest (other than as a creditor) in a domestic corporation that is a U. File 2009 tax return S. File 2009 tax return real property holding corporation. File 2009 tax return Real property includes the following. File 2009 tax return Land and unsevered natural products of the land, such as growing crops and timber, and mines, wells, and other natural deposits. File 2009 tax return Improvements on land, including buildings, other permanent structures, and their structural components. File 2009 tax return Personal property associated with the use of real property, such as equipment used in farming, mining, forestry, or construction or property used in lodging facilities or rented office space, unless the personal property is: Disposed of more than one year before or after the disposition of the real property, or Separately sold to persons unrelated either to the seller or to the buyer of the real property. File 2009 tax return U. File 2009 tax return S. File 2009 tax return real property holding corporation. File 2009 tax return   A corporation is a U. File 2009 tax return S. File 2009 tax return real property holding corporation if the fair market value of the corporation's U. File 2009 tax return S. File 2009 tax return real property interests are at least 50% of the total fair market value of: The corporation's U. File 2009 tax return S. File 2009 tax return real property interests, plus The corporation's interests in real property located outside the United States, plus The corporation's other assets that are used in, or held for use in, a trade or business. File 2009 tax return   Gain or loss on the sale of the stock in any domestic corporation is taxed as if you are engaged in a U. File 2009 tax return S. File 2009 tax return trade or business unless you establish that the corporation is not a U. File 2009 tax return S. File 2009 tax return real property holding corporation. File 2009 tax return   A U. File 2009 tax return S. File 2009 tax return real property interest does not include a class of stock of a corporation that is regularly traded on an established securities market, unless you hold more than 5% of the fair market value of that class of stock. File 2009 tax return An interest in a foreign corporation owning U. File 2009 tax return S. File 2009 tax return real property generally is not a U. File 2009 tax return S. File 2009 tax return real property interest unless the corporation chooses to be treated as a domestic corporation. File 2009 tax return Qualified investment entities. File 2009 tax return   Special rules apply to qualified investment entities (QIEs). File 2009 tax return A QIE is any real estate investment trust (REIT) or any regulated investment company (RIC) that is a U. File 2009 tax return S. File 2009 tax return real property holding corporation. File 2009 tax return    Generally, any distribution from a QIE to a shareholder that is attributable to gain from the sale or exchange of a U. File 2009 tax return S. File 2009 tax return real property interest is treated as a U. File 2009 tax return S. File 2009 tax return real property gain by the shareholder receiving the distribution. File 2009 tax return A distribution by a QIE on stock regularly traded on an established securities market in the United States is not treated as gain from the sale or exchange of a U. File 2009 tax return S. File 2009 tax return real property interest if you did not own more than 5% of that stock at any time during the 1-year period ending on the date of the distribution. File 2009 tax return A distribution that you do not treat as gain from the sale or exchange of a U. File 2009 tax return S. File 2009 tax return real property interest is included in your gross income as a regular dividend. File 2009 tax return Note. File 2009 tax return Beginning January 1, 2014 (unless extended by legislation), a RIC that is a U. File 2009 tax return S. File 2009 tax return real property holding corporation will only be treated as a QIE for certain distributions from the RIC that are directly or indirectly attributable to distributions received by the RIC from a REIT. File 2009 tax return Domestically controlled QIE. File 2009 tax return   The sale of an interest in a domestically controlled QIE is not the sale of a U. File 2009 tax return S. File 2009 tax return real property interest. File 2009 tax return The entity is domestically controlled if at all times during the testing period less than 50% in value of its stock was held, directly or indirectly, by foreign persons. File 2009 tax return The testing period is the shorter of (a) the 5-year period ending on the date of disposition, or (b) the period during which the entity was in existence. File 2009 tax return Wash sale. File 2009 tax return    If you dispose of an interest in a domestically controlled QIE in an applicable wash sale transaction, special rules apply. File 2009 tax return An applicable wash sale transaction is one in which you: Dispose of an interest in the domestically controlled QIE during the 30-day period before the ex-dividend date of a distribution that you would (but for the disposition) have treated as gain from the sale or exchange of a U. File 2009 tax return S. File 2009 tax return real property interest, and Acquire, or enter into a contract or option to acquire, a substantially identical interest in that entity during the 61-day period that began on the first day of the 30-day period. File 2009 tax return If this occurs, you are treated as having gain from the sale or exchange of a U. File 2009 tax return S. File 2009 tax return real property interest in an amount equal to the distribution made after June 15, 2006, that would have been treated as such gain. File 2009 tax return This also applies to any substitute dividend payment. File 2009 tax return   A transaction is not treated as an applicable wash sale transaction if: You actually receive the distribution from the domestically controlled QIE related to the interest disposed of, or acquired, in the transaction, or You dispose of any class of stock in a QIE that is regularly traded on an established securities market in the United States but only if you did not own more than 5% of that class of stock at any time during the 1-year period ending on the date of the distribution. File 2009 tax return Alternative minimum tax. File 2009 tax return   There may be a minimum tax on your net gain from the disposition of U. File 2009 tax return S. File 2009 tax return real property interests. File 2009 tax return Figure the amount of this tax, if any, on Form 6251. File 2009 tax return Withholding of tax. File 2009 tax return   If you dispose of a U. File 2009 tax return S. File 2009 tax return real property interest, the buyer may have to withhold tax. File 2009 tax return See the discussion of Tax Withheld on Real Property Sales in chapter 8. File 2009 tax return Foreign Income You must treat three kinds of foreign source income as effectively connected with a trade or business in the United States if: You have an office or other fixed place of business in the United States to which the income can be attributed, That office or place of business is a material factor in producing the income, and The income is produced in the ordinary course of the trade or business carried on through that office or other fixed place of business. File 2009 tax return An office or other fixed place of business is a material factor if it significantly contributes to, and is an essential economic element in, the earning of the income. File 2009 tax return The three kinds of foreign source income are listed below. File 2009 tax return Rents and royalties for the use of, or for the privilege of using, intangible personal property located outside the United States or from any interest in such property. File 2009 tax return Included are rents or royalties for the use, or for the privilege of using, outside the United States, patents, copyrights, secret processes and formulas, goodwill, trademarks, trade brands, franchises, and similar properties if the rents or royalties are from the active conduct of a trade or business in the United States. File 2009 tax return Dividends, interest, or amounts received for the provision of a guarantee of indebtedness issued after September 27, 2010, from the active conduct of a banking, financing, or similar business in the United States. File 2009 tax return A substitute dividend or interest payment received under a securities lending transaction or a sale-repurchase transaction is treated the same as the amounts received on the transferred security. File 2009 tax return Income, gain, or loss from the sale outside the United States, through the U. File 2009 tax return S. File 2009 tax return office or other fixed place of business, of: Stock in trade, Property that would be included in inventory if on hand at the end of the tax year, or Property held primarily for sale to customers in the ordinary course of business. File 2009 tax return Item (3) will not apply if you sold the property for use, consumption, or disposition outside the United States and an office or other fixed place of business in a foreign country was a material factor in the sale. File 2009 tax return Any foreign source income that is equivalent to any item of income described above is treated as effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return For example, foreign source interest and dividend equivalents are treated as U. File 2009 tax return S. File 2009 tax return effectively connected income if the income is derived by a foreign person in the active conduct of a banking, financing, or similar business within the United States. File 2009 tax return Tax on Effectively Connected Income Income you receive during the tax year that is effectively connected with your trade or business in the United States is, after allowable deductions, taxed at the rates that apply to U. File 2009 tax return S. File 2009 tax return citizens and residents. File 2009 tax return Generally, you can receive effectively connected income only if you are a nonresident alien engaged in trade or business in the United States during the tax year. File 2009 tax return However, income you receive from the sale or exchange of property, the performance of services, or any other transaction in another tax year is treated as effectively connected in that year if it would have been effectively connected in the year the transaction took place or you performed the services. File 2009 tax return Example. File 2009 tax return Ted Richards, a nonresident alien, entered the United States in August 2012, to perform personal services in the U. File 2009 tax return S. File 2009 tax return office of his overseas employer. File 2009 tax return He worked in the U. File 2009 tax return S. File 2009 tax return office until December 25, 2012, but did not leave this country until January 11, 2013. File 2009 tax return On January 8, 2013, he received his final paycheck for services performed in the United States during 2012. File 2009 tax return All of Ted's income during his stay here is U. File 2009 tax return S. File 2009 tax return source income. File 2009 tax return During 2012, Ted was engaged in the trade or business of performing personal services in the United States. File 2009 tax return Therefore, all amounts paid to him in 2012 for services performed in the United States during 2012 are effectively connected with that trade or business during 2012. File 2009 tax return The salary payment Ted received in January 2013 is U. File 2009 tax return S. File 2009 tax return source income to him in 2013. File 2009 tax return It is effectively connected with a trade or business in the United States because he was engaged in a trade or business in the United States during 2012 when he performed the services that earned the income. File 2009 tax return Real property income. File 2009 tax return   You may be able to choose to treat all income from real property as effectively connected. File 2009 tax return See Income From Real Property , later, in this chapter. File 2009 tax return The 30% Tax Tax at a 30% (or lower treaty) rate applies to certain items of income or gains from U. File 2009 tax return S. File 2009 tax return sources but only if the items are not effectively connected with your U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return Fixed or Determinable Income The 30% (or lower treaty) rate applies to the gross amount of U. File 2009 tax return S. File 2009 tax return source fixed or determinable annual or periodic gains, profits, or income. File 2009 tax return Income is fixed when it is paid in amounts known ahead of time. File 2009 tax return Income is determinable whenever there is a basis for figuring the amount to be paid. File 2009 tax return Income can be periodic if it is paid from time to time. File 2009 tax return It does not have to be paid annually or at regular intervals. File 2009 tax return Income can be determinable or periodic even if the length of time during which the payments are made is increased or decreased. File 2009 tax return Items specifically included as fixed or determinable income are interest (other than original issue discount), dividends, dividend equivalent payments (defined in chapter 2), rents, premiums, annuities, salaries, wages, and other compensation. File 2009 tax return A substitute dividend or interest payment received under a securities lending transaction or a sale-repurchase transaction is treated the same as the amounts received on the transferred security. File 2009 tax return Other items of income, such as royalties, also may be subject to the 30% tax. File 2009 tax return Some fixed or determinable income may be exempt from U. File 2009 tax return S. File 2009 tax return tax. File 2009 tax return See chapter 3 if you are not sure whether the income is taxable. File 2009 tax return Original issue discount (OID). File 2009 tax return   If you sold, exchanged, or received a payment on a bond or other debt instrument that was issued at a discount after March 31, 1972, all or part of the original issue discount (OID) (other than portfolio interest) may be subject to the 30% tax. File 2009 tax return The amount of OID is the difference between the stated redemption price at maturity and the issue price of the debt instrument. File 2009 tax return The 30% tax applies in the following circumstances. File 2009 tax return You received a payment on a debt instrument. File 2009 tax return In this case, the amount of OID subject to tax is the OID that accrued while you held the debt instrument minus the OID previously taken into account. File 2009 tax return But the tax on the OID cannot be more than the payment minus the tax on the interest payment on the debt instrument. File 2009 tax return You sold or exchanged the debt instrument. File 2009 tax return The amount of OID subject to tax is the OID that accrued while you held the debt instrument minus the amount already taxed in (1) above. File 2009 tax return   Report on your return the amount of OID shown on Form 1042-S, Foreign Person's U. File 2009 tax return S. File 2009 tax return Source Income Subject to Withholding, if you bought the debt instrument at original issue. File 2009 tax return However, you must recompute your proper share of OID shown on Form 1042-S if any of the following apply. File 2009 tax return You bought the debt instrument at a premium or paid an acquisition premium. File 2009 tax return The debt instrument is a stripped bond or a stripped coupon (including zero coupon instruments backed by U. File 2009 tax return S. File 2009 tax return Treasury securities). File 2009 tax return The debt instrument is a contingent payment or inflation-indexed debt instrument. File 2009 tax return For the definition of premium and acquisition premium and instructions on how to recompute OID, get Publication 1212. File 2009 tax return   If you held a bond or other debt instrument that was issued at a discount before April 1, 1972, contact the IRS for further information. File 2009 tax return See chapter 12. File 2009 tax return Gambling Winnings In general, nonresident aliens are subject to the 30% tax on the gross proceeds from gambling won in the United States if that income is not effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business and is not exempted by treaty. File 2009 tax return However, no tax is imposed on nonbusiness gambling income a nonresident alien wins playing blackjack, baccarat, craps, roulette, or big-6 wheel in the United States. File 2009 tax return Nonresident aliens are taxed at graduated rates on net gambling income won in the United States that is effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return Social Security Benefits A nonresident alien must include 85% of any U. File 2009 tax return S. File 2009 tax return social security benefit (and the social security equivalent part of a tier 1 railroad retirement benefit) in U. File 2009 tax return S. File 2009 tax return source fixed or determinable annual or periodic income. File 2009 tax return Social security benefits include monthly retirement, survivor, and disability benefits. File 2009 tax return This income is exempt under some tax treaties. File 2009 tax return See Table 1 in Publication 901, U. File 2009 tax return S. File 2009 tax return Tax Treaties, for a list of tax treaties that exempt U. File 2009 tax return S. File 2009 tax return social security benefits from U. File 2009 tax return S. File 2009 tax return tax. File 2009 tax return Sales or Exchanges of Capital Assets These rules apply only to those capital gains and losses from sources in the United States that are not effectively connected with a trade or business in the United States. File 2009 tax return They apply even if you are engaged in a trade or business in the United States. File 2009 tax return These rules do not apply to the sale or exchange of a U. File 2009 tax return S. File 2009 tax return real property interest or to the sale of any property that is effectively connected with a trade or business in the United States. File 2009 tax return See Real Property Gain or Loss , earlier, under Effectively Connected Income. File 2009 tax return A capital asset is everything you own except: Inventory. File 2009 tax return Business accounts or notes receivable. File 2009 tax return Depreciable property used in a trade or business. File 2009 tax return Real property used in a trade or business. File 2009 tax return Supplies regularly used in a trade or business. File 2009 tax return Certain copyrights, literary or musical or artistic compositions, letters or memoranda, or similar property. File 2009 tax return Certain U. File 2009 tax return S. File 2009 tax return government publications. File 2009 tax return Certain commodities derivative financial instruments held by a commodities derivatives dealer. File 2009 tax return Hedging transactions. File 2009 tax return A capital gain is a gain on the sale or exchange of a capital asset. File 2009 tax return A capital loss is a loss on the sale or exchange of a capital asset. File 2009 tax return If the sale is in foreign currency, for the purpose of determining gain, the cost and selling price of the property should be expressed in U. File 2009 tax return S. File 2009 tax return currency at the rate of exchange prevailing as of the date of the purchase and date of the sale, respectively. File 2009 tax return You may want to read Publication 544. File 2009 tax return However, use Publication 544 only to determine what is a sale or exchange of a capital asset, or what is treated as such. File 2009 tax return Specific tax treatment that applies to U. File 2009 tax return S. File 2009 tax return citizens or residents generally does not apply to you. File 2009 tax return The following gains are subject to the 30% (or lower treaty) rate without regard to the 183-day rule, discussed later. File 2009 tax return Gains on the disposal of timber, coal, or domestic iron ore with a retained economic interest. File 2009 tax return Gains on contingent payments received from the sale or exchange of patents, copyrights, and similar property after October 4, 1966. File 2009 tax return Gains on certain transfers of all substantial rights to, or an undivided interest in, patents if the transfers were made before October 5, 1966. File 2009 tax return Gains on the sale or exchange of original issue discount obligations. File 2009 tax return Gains in (1) are not subject to the 30% (or lower treaty) rate if you choose to treat the gains as effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return See Income From Real Property , later. File 2009 tax return 183-day rule. File 2009 tax return   If you were in the United States for 183 days or more during the tax year, your net gain from sales or exchanges of capital assets is taxed at a 30% (or lower treaty) rate. File 2009 tax return For purposes of the 30% (or lower treaty) rate, net gain is the excess of your capital gains from U. File 2009 tax return S. File 2009 tax return sources over your capital losses from U. File 2009 tax return S. File 2009 tax return sources. File 2009 tax return This rule applies even if any of the transactions occurred while you were not in the United States. File 2009 tax return   To determine your net gain, consider the amount of your gains and losses that would be recognized and taken into account only if, and to the extent that, they would be recognized and taken into account if you were in a U. File 2009 tax return S. File 2009 tax return trade or business during the year and the gains and losses were effectively connected with that trade or business during the tax year. File 2009 tax return   In arriving at your net gain, do not take the following into consideration. File 2009 tax return The four types of gains listed earlier. File 2009 tax return The deduction for a capital loss carryover. File 2009 tax return Capital losses in excess of capital gains. File 2009 tax return Exclusion for gain from the sale or exchange of qualified small business stock (section 1202 exclusion). File 2009 tax return Losses from the sale or exchange of property held for personal use. File 2009 tax return However, losses resulting from casualties or thefts may be deductible on Schedule A (Form 1040NR). File 2009 tax return See Itemized Deductions in chapter 5. File 2009 tax return   If you are not engaged in a trade or business in the United States and have not established a tax year for a prior period, your tax year will be the calendar year for purposes of the 183-day rule. File 2009 tax return Also, you must file your tax return on a calendar-year basis. File 2009 tax return   If you were in the United States for less than 183 days during the tax year, capital gains (other than gains listed earlier) are tax exempt unless they are effectively connected with a trade or business in the United States during your tax year. File 2009 tax return Reporting. File 2009 tax return   Report your gains and losses from the sales or exchanges of capital assets that are not effectively connected with a trade or business in the United States on page 4 of Form 1040NR. File 2009 tax return Report gains and losses from sales or exchanges of capital assets (including real property) that are effectively connected with a trade or business in the United States on a separate Schedule D (Form 1040), Form 4797, or both. File 2009 tax return Attach them to Form 1040NR. File 2009 tax return Income From Real Property If you have income from real property located in the United States that you own or have an interest in and hold for the production of income, you can choose to treat all income from that property as income effectively connected with a trade or business in the United States. File 2009 tax return The choice applies to all income from real property located in the United States and held for the production of income and to all income from any interest in such property. File 2009 tax return This includes income from rents, royalties from mines, oil or gas wells, or other natural resources. File 2009 tax return It also includes gains from the sale or exchange of timber, coal, or domestic iron ore with a retained economic interest. File 2009 tax return You can make this choice only for real property income that is not otherwise effectively connected with your U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return If you make the choice, you can claim deductions attributable to the real property income and only your net income from real property is taxed. File 2009 tax return This choice does not treat a nonresident alien, who is not otherwise engaged in a U. File 2009 tax return S. File 2009 tax return trade or business, as being engaged in a trade or business in the United States during the year. File 2009 tax return Example. File 2009 tax return You are a nonresident alien and are not engaged in a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return You own a single-family house in the United States that you rent out. File 2009 tax return Your rental income for the year is $10,000. File 2009 tax return This is your only U. File 2009 tax return S. File 2009 tax return source income. File 2009 tax return As discussed earlier under The 30% Tax, the rental income is subject to a tax at a 30% (or lower treaty) rate. File 2009 tax return You received a Form 1042-S showing that your tenants properly withheld this tax from the rental income. File 2009 tax return You do not have to file a U. File 2009 tax return S. File 2009 tax return tax return (Form 1040NR) because your U. File 2009 tax return S. File 2009 tax return tax liability is satisfied by the withholding of tax. File 2009 tax return If you make the choice discussed earlier, you can offset the $10,000 income by certain rental expenses. File 2009 tax return (See Publication 527, Residential Rental Property, for information on rental expenses. File 2009 tax return ) Any resulting net income is taxed at graduated rates. File 2009 tax return If you make this choice, report the rental income and expenses on Schedule E (Form 1040) and attach the schedule to Form 1040NR. File 2009 tax return For the first year you make the choice, also attach the statement discussed next. File 2009 tax return Making the choice. File 2009 tax return   Make the initial choice by attaching a statement to your return, or amended return, for the year of the choice. File 2009 tax return Include the following in your statement. File 2009 tax return That you are making the choice. File 2009 tax return Whether the choice is under Internal Revenue Code section 871(d) (explained earlier) or a tax treaty. File 2009 tax return A complete list of all your real property, or any interest in real property, located in the United States. File 2009 tax return Give the legal identification of U. File 2009 tax return S. File 2009 tax return timber, coal, or iron ore in which you have an interest. File 2009 tax return The extent of your ownership in the property. File 2009 tax return The location of the property. File 2009 tax return A description of any major improvements to the property. File 2009 tax return The dates you owned the property. File 2009 tax return Your income from the property. File 2009 tax return Details of any previous choices and revocations of the real property income choice. File 2009 tax return   This choice stays in effect for all later tax years unless you revoke it. File 2009 tax return Revoking the choice. File 2009 tax return   You can revoke the choice without IRS approval by filing Form 1040X, Amended U. File 2009 tax return S. File 2009 tax return Individual Income Tax Return, for the year you made the choice and for later tax years. File 2009 tax return You must file Form 1040X within 3 years from the date your return was filed or 2 years from the time the tax was paid, whichever is later. File 2009 tax return If this time period has expired for the year of choice, you cannot revoke the choice for that year. File 2009 tax return However, you may revoke the choice for later tax years only if you have IRS approval. File 2009 tax return For information on how to get IRS approval, see Regulation section 1. File 2009 tax return 871-10(d)(2). File 2009 tax return Transportation Tax A 4% tax rate applies to transportation income that is not effectively connected because it does not meet the two conditions listed earlier under Transportation Income . File 2009 tax return If you receive transportation income subject to the 4% tax, you should figure the tax and show it on line 57 of Form 1040NR. File 2009 tax return Attach a statement to your return that includes the following information (if applicable). File 2009 tax return Your name, taxpayer identification number, and tax year. File 2009 tax return A description of the types of services performed (whether on or off board). File 2009 tax return Names of vessels or registration numbers of aircraft on which you performed the services. File 2009 tax return Amount of U. File 2009 tax return S. File 2009 tax return source transportation income derived from each type of service for each vessel or aircraft for the calendar year. File 2009 tax return Total amount of U. File 2009 tax return S. File 2009 tax return source transportation income derived from all types of services for the calendar year. File 2009 tax return This 4% tax applies to your U. File 2009 tax return S. File 2009 tax return source gross transportation income. File 2009 tax return This only includes transportation income that is treated as derived from sources in the United States if the transportation begins or ends in the United States. File 2009 tax return For transportation income from personal services, the transportation must be between the United States and a U. File 2009 tax return S. File 2009 tax return possession. File 2009 tax return For personal services of a nonresident alien, this only applies to income derived from, or in connection with, an aircraft. File 2009 tax return Interrupted Period of Residence You are subject to tax under a special rule if you interrupt your period of U. File 2009 tax return S. File 2009 tax return residence with a period of nonresidence. File 2009 tax return The special rule applies if you meet all of the following conditions. File 2009 tax return You were a U. File 2009 tax return S. File 2009 tax return resident for a period that includes at least 3 consecutive calendar years. File 2009 tax return You were a U. File 2009 tax return S. File 2009 tax return resident for at least 183 days in each of those years. File 2009 tax return You ceased to be treated as a U. File 2009 tax return S. File 2009 tax return resident. File 2009 tax return You then again became a U. File 2009 tax return S. File 2009 tax return resident before the end of the third calendar year after the end of the period described in (1) above. File 2009 tax return Under this special rule, you are subject to tax on your U. File 2009 tax return S. File 2009 tax return source gross income and gains on a net basis at the graduated rates applicable to individuals (with allowable deductions) for the period you were a nonresident alien, unless you would be subject to a higher tax under the 30% tax (discussed earlier) on income not connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return For information on how to figure the special tax, see How To Figure the Expatriation Tax (If You Expatriated Before June 17, 2008) under Expatriation Tax , below. File 2009 tax return Example. File 2009 tax return John Willow, a citizen of New Zealand, entered the United States on April 1, 2008, as a lawful permanent resident. File 2009 tax return On August 1, 2010, John ceased to be a lawful permanent resident and returned to New Zealand. File 2009 tax return During his period of residence, he was present in the United States for at least 183 days in each of three consecutive years (2008, 2009, and 2010). File 2009 tax return He returned to the United States on October 5, 2013, as a lawful permanent resident. File 2009 tax return He became a resident before the close of the third calendar year (2013) beginning after the end of his first period of residence (August 1, 2010). File 2009 tax return Therefore, he is subject to tax under the special rule for the period of nonresidence (August 2, 2010, through October 4, 2013) if it is more than the tax that would normally apply to him as a nonresident alien. File 2009 tax return Reporting requirements. File 2009 tax return   If you are subject to this tax for any year in the period you were a nonresident alien, you must file Form 1040NR for that year. File 2009 tax return The return is due by the due date (including extensions) for filing your U. File 2009 tax return S. File 2009 tax return income tax return for the year that you again become a U. File 2009 tax return S. File 2009 tax return resident. File 2009 tax return If you already filed returns for that period, you must file amended returns. File 2009 tax return You must attach a statement to your return that identifies the source of all of your U. File 2009 tax return S. File 2009 tax return and foreign gross income and the items of income subject to this special rule. File 2009 tax return Expatriation Tax The expatriation tax provisions apply to U. File 2009 tax return S. File 2009 tax return citizens who have renounced their citizenship and long-term residents who have ended their residency. File 2009 tax return The rules that apply are based on the dates of expatriation, which are described in the following sections. File 2009 tax return Expatriation Before June 4, 2004. File 2009 tax return Expatriation After June 3, 2004, and Before June 17, 2008. File 2009 tax return Expatriation After June 16, 2008. File 2009 tax return Long-term resident defined. File 2009 tax return   You are a long-term resident if you were a lawful permanent resident of the United States in at least 8 of the last 15 tax years ending with the year your residency ends. File 2009 tax return In determining if you meet the 8-year requirement, do not count any year that you are treated as a resident of a foreign country under a tax treaty and do not waive treaty benefits. File 2009 tax return Expatriation Before June 4, 2004 If you expatriated before June 4, 2004, the expatriation rules apply if one of the principal purposes of the action is the avoidance of U. File 2009 tax return S. File 2009 tax return taxes. File 2009 tax return Unless you received a ruling from the IRS that you did not expatriate to avoid U. File 2009 tax return S. File 2009 tax return taxes, you are presumed to have tax avoidance as a principal purpose if: Your average annual net income tax for the last 5 tax years ending before the date of your action to relinquish your citizenship or terminate your residency was more than $100,000, or Your net worth on the date of your action was $500,000 or more. File 2009 tax return The amounts above are adjusted for inflation if your expatriation action is after 1997 (see Table 4-1). File 2009 tax return Table 4-1. File 2009 tax return Inflation-Adjusted Amounts for Expatriation Actions Before June 4, 2004 IF you expatriated during . File 2009 tax return . File 2009 tax return . File 2009 tax return   THEN the rules outlined on this page apply if . File 2009 tax return . File 2009 tax return . File 2009 tax return     Your 5-year average annual net income tax was more than . File 2009 tax return . File 2009 tax return . File 2009 tax return OR Your net worth equaled or exceeded . File 2009 tax return . File 2009 tax return . File 2009 tax return 1999   110,000   552,000 2000   112,000   562,000 2001   116,000   580,000 2002   120,000   599,000 2003   122,000   608,000 2004 (before June 4)*   124,000   622,000 *If you expatriated after June 3, 2004, see Expatriation After June 3, 2004, and Before June 17, 2008 or Expatriation After June 16, 2008. File 2009 tax return Reporting requirements. File 2009 tax return   If you lost your U. File 2009 tax return S. File 2009 tax return citizenship, you should have filed Form 8854 with a consular office or a federal court at the time of loss of citizenship. File 2009 tax return If you ended your long-term residency, you should have filed Form 8854 with the Internal Revenue Service when you filed your dual-status tax return for the year your residency ended. File 2009 tax return   Your U. File 2009 tax return S. File 2009 tax return residency is considered to have ended when you ceased to be a lawful permanent resident or you began to be treated as a resident of another country under a tax treaty and do not waive treaty benefits. File 2009 tax return Penalties. File 2009 tax return   If you failed to file Form 8854, you may have to pay a penalty equal to the greater of 5% of the expatriation tax or $1,000. File 2009 tax return The penalty will be assessed for each year of the 10-year period beginning on the date of expatriation during which your failure to file continues. File 2009 tax return The penalty will not be imposed if you can show that the failure is due to reasonable cause and not willful neglect. File 2009 tax return Expatriation tax. File 2009 tax return   The expatriation tax applies to the 10-year period following the date of expatriation or termination of residency. File 2009 tax return It is figured in the same way as for those expatriating after June 3, 2004, and before June 17, 2008. File 2009 tax return See How To Figure the Expatriation Tax (If You Expatriated Before June 17, 2008) in the next section. File 2009 tax return Expatriation After June 3, 2004, and Before June 17, 2008 If you expatriated after June 3, 2004, and before June 17, 2008, the expatriation rules apply to you if any of the following statements apply. File 2009 tax return Your average annual net income tax for the 5 tax years ending before the date of expatriation or termination of residency is more than: $124,000 if you expatriated or terminated residency in 2004. File 2009 tax return $127,000 if you expatriated or terminated residency in 2005. File 2009 tax return $131,000 if you expatriated or terminated residency in 2006. File 2009 tax return $136,000 if you expatriated or terminated residency in 2007. File 2009 tax return $139,000 if you expatriated or terminated residency in 2008. File 2009 tax return Your net worth is $2 million or more on the date of your expatriation or termination of residency. File 2009 tax return You fail to certify on Form 8854 that you have complied with all U. File 2009 tax return S. File 2009 tax return federal tax obligations for the 5 tax years preceding the date of your expatriation or termination of residency. File 2009 tax return Exception for dual-citizens and certain minors. File 2009 tax return   Certain dual-citizens and certain minors (defined next) are not subject to the expatriation tax even if they meet (1) or (2) earlier. File 2009 tax return However, they still must provide the certification required in (3). File 2009 tax return Certain dual-citizens. File 2009 tax return   You may qualify for the exception described above if all of the following apply. File 2009 tax return You became at birth a U. File 2009 tax return S. File 2009 tax return citizen and a citizen of another country and you continue to be a citizen of that other country. File 2009 tax return You were never a resident alien of the United States (as defined in chapter 1). File 2009 tax return You never held a U. File 2009 tax return S. File 2009 tax return passport. File 2009 tax return You were present in the United States for no more than 30 days during any calendar year that is 1 of the 10 calendar years preceding your loss of U. File 2009 tax return S. File 2009 tax return citizenship. File 2009 tax return Certain minors. File 2009 tax return   You may qualify for the exception described above if you meet all of the following requirements. File 2009 tax return You became a U. File 2009 tax return S. File 2009 tax return citizen at birth. File 2009 tax return Neither of your parents was a U. File 2009 tax return S. File 2009 tax return citizen at the time of your birth. File 2009 tax return You expatriated before you were 18½. File 2009 tax return You were present in the United States for not more than 30 days during any calendar year that is 1 of the 10 calendar years preceding your expatriation. File 2009 tax return Tax consequences of presence in the United States. File 2009 tax return   The following rules apply if you do not meet the exception above for dual-citizens and certain minors and the expatriation rules would otherwise apply to you. File 2009 tax return   The expatriation tax does not apply to any tax year during the 10-year period if you are physically present in the United States for more than 30 days during the calendar year ending in that year. File 2009 tax return Instead, you are treated as a U. File 2009 tax return S. File 2009 tax return citizen or resident and taxed on your worldwide income for that tax year. File 2009 tax return You must file Form 1040, 1040A, or 1040EZ and figure your tax as prescribed in the instructions for those forms. File 2009 tax return   When counting the number of days of presence during a calendar year, count any day you were physically present in the United States at any time during the day. File 2009 tax return However, do not count any days (up to a limit of 30 days) on which you performed personal services in the United States for an employer who is not related to you if either of the following apply. File 2009 tax return You have ties with other countries. File 2009 tax return You have ties with other countries if: You became (within a reasonable period after your expatriation or termination of residency) a citizen or resident of the country in which you, your spouse, or either of your parents were born, and You became fully liable for income tax in that country. File 2009 tax return You were physically present in the United States for 30 days or less during each year in the 10-year period ending on the date of expatriation or termination of residency. File 2009 tax return Do not count any day you were an exempt individual or were unable to leave the United States because of a medical condition that arose while you were in the United States. File 2009 tax return See Exempt individual and Medical condition in chapter 1 under Substantial Presence Test, but disregard the information about Form 8843. File 2009 tax return Related employer. File 2009 tax return   If your employer in the United States is any of the following, then your employer is related to you. File 2009 tax return You must count any days you performed services in the United States for that employer as days of presence in the United States. File 2009 tax return Members of your family. File 2009 tax return This includes only your brothers and sisters, half-brothers and half-sisters, spouse, ancestors (parents, grandparents, etc. File 2009 tax return ), and lineal descendants (children, grandchildren, etc. File 2009 tax return ). File 2009 tax return A partnership in which you directly or indirectly own more than 50% of the capital interest or the profits interest. File 2009 tax return A corporation in which you directly or indirectly own more than 50% in value of the outstanding stock. File 2009 tax return (See Publication 550, chapter 4, Constructive ownership of stock, for how to determine whether you directly or indirectly own outstanding stock. File 2009 tax return ) A tax-exempt charitable or educational organization that is directly or indirectly controlled, in any manner or by any method, by you or by a member of your family, whether or not this control is legally enforceable. File 2009 tax return Date of tax expatriation. File 2009 tax return   For purposes of U. File 2009 tax return S. File 2009 tax return tax rules, the date of your expatriation or termination of residency is the later of the dates on which you perform the following actions. File 2009 tax return You notify either the Department of State or the Department of Homeland Security (whichever is appropriate) of your expatriating act or termination of residency. File 2009 tax return You file Form 8854 in accordance with the form instructions. File 2009 tax return Annual return. File 2009 tax return   If the expatriation tax applies to you, you must file Form 8854 each year during the 10-year period following the date of expatriation. File 2009 tax return You must file this form even if you owe no U. File 2009 tax return S. File 2009 tax return tax. File 2009 tax return Penalty. File 2009 tax return   If you fail to file Form 8854 for any tax year, fail to include all information required to be shown on the form, or include incorrect information, you may have to pay a penalty of $10,000. File 2009 tax return You will not have to pay a penalty if you show that the failure is due to reasonable cause and not to willful neglect. File 2009 tax return How To Figure the Expatriation Tax (If You Expatriated Before June 17, 2008) If the expatriation tax applies to you, you are generally subject to tax on your U. File 2009 tax return S. File 2009 tax return source gross income and gains on a net basis at the graduated rates applicable to individuals (with allowable deductions) unless you would be subject to a higher tax under the 30% tax (discussed earlier) on income not connected with a U. File 2009 tax return S. File 2009 tax return trade or business. File 2009 tax return For this purpose, U. File 2009 tax return S. File 2009 tax return source gross income (defined in chapter 2) includes gains from the sale or exchange of: Property (other than stock or debt obligations) located in the United States, Stock issued by a U. File 2009 tax return S. File 2009 tax return domestic corporation, and Debt obligations of U. File 2009 tax return S. File 2009 tax return persons or of the United States, a state or political subdivision thereof, or the District of Columbia. File 2009 tax return U. File 2009 tax return S. File 2009 tax return source income also includes any income or gain derived from stock in certain controlled foreign corporations if you owned, or were considered to own, at any time during the 2-year period ending on the date of expatriation, more than 50% of: The total combined voting power of all classes of that corporation's stock, or The total value of the stock. File 2009 tax return The income or gain is considered U. File 2009 tax return S. File 2009 tax return source income only to the extent of your share of earnings and profits earned or accumulated before the date of expatriation and during the periods you met the ownership requirements discussed above. File 2009 tax return Any exchange of property is treated as a sale of the property at its fair market value on the date of the exchange and any gain is treated as U. File 2009 tax return S. File 2009 tax return source gross income in the tax year of the exchange unless you enter into a gain recognition agreement under Notice 97-19. File 2009 tax return Other information. File 2009 tax return   For more information on the expatriation tax provisions, including exceptions to the tax and special U. File 2009 tax return S. File 2009 tax return source rules, see section 877 of the Internal Revenue Code. File 2009 tax return Expatriation Tax Return If you expatriated or terminated your U. File 2009 tax return S. File 2009 tax return residency, or you are subject to the expatriation tax, you must file Form 8854, Initial and Annual Expatriation Statement. File 2009 tax return Attach it to Form 1040NR if you are required to file that form. File 2009 tax return If you are present in the United States following your expatriation and are subject to tax as a U. File 2009 tax return S. File 2009 tax return citizen or resident, file Form 8854 with Form 1040. File 2009 tax return Expatriation After June 16, 2008 If you expatriated after June 16, 2008, the expatriation rules apply to you if you meet any of the following conditions. File 2009 tax return Your average annual net income tax for the 5 years ending before the date of expatriation or termination of residency is more than: $139,000 if you expatriated or terminated residency in 2008. File 2009 tax return $145,000 if you expatriated or terminated residency in 2009 or 2010. File 2009 tax return $147,000 if you expatriated or terminated residency in 2011. File 2009 tax return $151,000 if you expatriated or terminated residency in 2012. File 2009 tax return $155,000 if you expatriated or terminated residency in 2013. File 2009 tax return Your net worth is $2 million or more on the date of your expatriation or termination of residency. File 2009 tax return You fail to certify on Form 8854 that you have complied with all U. File 2009 tax return S. File 2009 tax return federal tax obligations for the 5 years preceding the date of your expatriation or termination of residency. File 2009 tax return Exception for dual-citizens and certain minors. File 2009 tax return   Certain dual-citizens and certain minors (defined next) are not subject to the expatriation tax even if they meet (1) or (2) above. File 2009 tax return However, they still must provide the certification required in (3) above. File 2009 tax return Certain dual-citizens. File 2009 tax return   You may qualify for the exception described above if both of the following apply. File 2009 tax return You became at birth a U. File 2009 tax return S. File 2009 tax return citizen and a citizen of another country and you continue to be a citizen of, and are taxed as a resident of, that other country. File 2009 tax return You have been a resident of the United States for not more than 10 years during the 15-year tax period ending with the tax year during which the expatriation occurs. File 2009 tax return For the purpose of determining U. File 2009 tax return S. File 2009 tax return residency, use the substantial presence test described in chapter 1. File 2009 tax return Certain minors. File 2009 tax return   You may qualify for the exception described earlier if you meet both of the following requirements. File 2009 tax return You expatriated before you were 18½. File 2009 tax return You have been a resident of the United States for not more than 10 tax years before the expatriation occurs. File 2009 tax return For the purpose of determining U. File 2009 tax return S. File 2009 tax return residency, use the substantial presence test described in chapter 1. File 2009 tax return Expatriation date. File 2009 tax return   Your expatriation date is the date you relinquish U. File 2009 tax return S. File 2009 tax return citizenship (in the case of a former citizen) or terminate your long-term residency (in the case of a former U. File 2009 tax return S. File 2009 tax return resident). File 2009 tax return Former U. File 2009 tax return S. File 2009 tax return citizen. File 2009 tax return   You are considered to have relinquished your U. File 2009 tax return S. File 2009 tax return citizenship on the earliest of the following dates. File 2009 tax return The date you renounced U. File 2009 tax return S. File 2009 tax return citizenship before a diplomatic or consular officer of the United States (provided that the voluntary renouncement was later confirmed by the issuance of a certificate of loss of nationality). File 2009 tax return The date you furnished to the State Department a signed statement of voluntary relinquishment of U. File 2009 tax return S. File 2009 tax return nationality confirming the performance of an expatriating act (provided that the voluntary relinquishment was later confirmed by the issuance of a certificate of loss of nationality). File 2009 tax return The date the State Department issued a certificate of loss of nationality. File 2009 tax return The date that a U. File 2009 tax return S. File 2009 tax return court canceled your certificate of naturalization. File 2009 tax return Former long-term resident. File 2009 tax return   You are considered to have terminated your long-term residency on the earliest of the following dates. File 2009 tax return The date you voluntarily relinquished your lawful permanent resident status by filing Department of Homeland Security Form I-407 with a U. File 2009 tax return S. File 2009 tax return consular or immigration officer, and the Department of Homeland Security determined that you have, in fact, abandoned your lawful permanent resident status. File 2009 tax return The date you became subject to a final administrative order for your removal from the United States under the Immigration and Nationality Act and you actually left the United States as a result of that order. File 2009 tax return If you were a dual resident of the United States and a country with which the United States has an income tax treaty, the date you began to be treated as a resident of that country and you determined that, for purposes of the treaty, you are a resident of the treaty country and notify the IRS of that treatment on Forms 8833 and 8854. File 2009 tax return See Effect of Tax Treaties in chapter 1 for more information about dual residents. File 2009 tax return How To Figure the Expatriation Tax (If You Expatriate After June 16, 2008) In the year you expatriate, you are subject to income tax on the net unrealized gain (or loss) in your property as if the property had been sold for its fair market value on the day before your expatriation date (“mark-to-market tax”). File 2009 tax return This applies to most types of property interests you held on the date of relinquishment of citizenship or termination of residency. File 2009 tax return But see Exceptions , later. File 2009 tax return Gains arising from deemed sales must be taken into account for the tax year of the deemed sale without regard to other U. File 2009 tax return S. File 2009 tax return internal revenue laws. File 2009 tax return Losses from deemed sales must be taken into account to the extent otherwise provided under U. File 2009 tax return S. File 2009 tax return internal revenue laws. File 2009 tax return However, Internal Revenue Code section 1091 (relating to the disallowance of losses on wash sales of stock and securities) does not apply. File 2009 tax return The net gain that you otherwise must include in your income is reduced (but not below zero) by: $600,000 if you expatriated or terminated residency before January 1, 2009. File 2009 tax return $626,000 if you expatriated or terminated residency in 2009. File 2009 tax return $627,000 if you expatriated or terminated residency in 2010. File 2009 tax return $636,000 if you expatriated or terminated residency in 2011. File 2009 tax return $651,000 if you expatriated or terminated residency in 2012. File 2009 tax return $668,000 if you expatriated or terminated residency in 2013. File 2009 tax return Exceptions. File 2009 tax return   The mark-to-market tax does not apply to the following. File 2009 tax return Eligible deferred compensation items. File 2009 tax return Ineligible deferred compensation items. File 2009 tax return Interests in nongrantor trusts. File 2009 tax return Specified tax deferred accounts. File 2009 tax return Instead, items (1) and (3) may be subject to withholding at source. File 2009 tax return In the case of item (2), you are treated as receiving the present value of your accrued benefit as of the day before the expatriation date. File 2009 tax return In the case of item (4), you are treated as receiving a distribution of your entire interest in the account on the day before your expatriation date. File 2009 tax return See paragraphs (d), (e), and (f) of section 877A for more information. File 2009 tax return Expatriation Tax Return If you expatriated or terminated your U. File 2009 tax return S. File 2009 tax return residency, or you are subject to the expatriation rules (as discussed earlier in the first paragraph under Expatriation After June 16, 2008), you must file Form 8854. File 2009 tax return Attach it to Form 1040 or Form 1040NR if you are required to file either of those forms. File 2009 tax return Deferral of payment of mark-to-market tax. File 2009 tax return   You can make an irrevocable election to defer payment of the mark-to-market tax imposed on the deemed sale of property. File 2009 tax return If you make this election, the following rules apply. File 2009 tax return You can make the election on a property-by-property basis. File 2009 tax return The deferred tax attributable to a particular property is due on the return for the tax year in which you dispose of the property. File 2009 tax return Interest is charged for the period the tax is deferred. File 2009 tax return The due date for the payment of the deferred tax cannot be extended beyond the earlier of the following dates. File 2009 tax return The due date of the return required for the year of death. File 2009 tax return The time that the security provided for the property fails to be adequate. File 2009 tax return See item (6) below. File 2009 tax return You make the election on Form 8854. File 2009 tax return You must provide adequate security (such as a bond). File 2009 tax return You must make an irrevocable waiver of any right under any treaty of the United States which would preclude assessment or collection of the mark-to-market tax. File 2009 tax return   For more information about the deferral of payment, see the Instructions for Form 8854. File 2009 tax return Prev  Up  Next   Home   More Online Publications
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Prepaid Cards

Prepaid cards, also known as prepaid debit, stored value, or gift cards, are convenient ways to pay for your purchases. Banks and retailers issue them to offer consumers a way to make payments and conduct other financial transactions. You do not need to have a bank account or a credit history to use a prepaid card. There are plenty of situations where a prepaid card might be the most convenient choice, but be sure you understand the key terms and conditions BEFORE you buy.

Many cards carry protections similar to credit and debit cards. To obtain these benefits, you must follow the instructions for registering and activating your card. Be sure to record your card information, including the customer service telephone number listed on the back of the card in a separate place, so you can get a replacement if yours is lost or stolen. Some prepaid card issuers may charge fees for card activation, maintenance, and cash withdrawals.

Payroll and General Purpose Spending Cards

Payroll and general purpose spending cards can be very useful for those who want to budget their money and for those who don't have a checking account or credit card.

General purpose spending cards, which may be purchased by consumers, typically charge a monthly maintenance fee and could charge additional fees for adding funds to the card and/or making purchases or getting cash.

Payroll cards are similar to general purpose spending cards except that they are provided by employers in place of paychecks. Payroll cards typically allow a certain number of ATM withdrawals without charge to the cardholder and usually do not assess fees for purchases.

Good News for Gift Cards

Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, gift cards and other similar cards cannot expire within five years from the date they were activated unless the expiration date is clearly disclosed. The law also prohibits an inactivity fee on gift cards except in certain circumstances, such as if there has been no transaction for at least 12 months.

Tips for Using Gift Cards:

  • Read the terms and conditions as soon as you get the card and check the expiration date.
  • Record the card's ID number and the customer service telephone number, and keep the information in a safe place until you've spent all of the money on the card.
  • If you didn't get the card's terms and conditions or original receipt, ask for them from the person who gave you the card.
  • Take care to safeguard your card. If it is lost or stolen, report it to the customer service number immediately, supply the ID number, and request a replacement.
  • Spend the value on your card before the maintenance fees start. If your card expires before you've had the chance to exhaust its value, contact the customer service number. It might be possible to extend the date, although you may be charged a fee.

The File 2009 Tax Return

File 2009 tax return 7. File 2009 tax return   Filing Information Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: What, When, and Where To FileResident Aliens Nonresident Aliens Amended Returns and Claims for Refund Other Forms You May Have To File PenaltiesCivil Penalties Criminal Penalties Introduction This chapter provides the basic filing information that you may need. File 2009 tax return Topics - This chapter discusses: Forms aliens must file, When and where to file, Penalties, and Amended returns and claims for refund. File 2009 tax return Useful Items - You may want to see: Forms (and Instructions) 1040 U. File 2009 tax return S. File 2009 tax return Individual Income Tax Return 1040A U. File 2009 tax return S. File 2009 tax return Individual Income Tax Return 1040EZ Income Tax Return for Single and Joint Filers With No Dependents 1040NR U. File 2009 tax return S. File 2009 tax return Nonresident Alien Income Tax Return 1040NR-EZ U. File 2009 tax return S. File 2009 tax return Income Tax Return for Certain Nonresident Aliens With No Dependents See chapter 12 for information about getting these forms. File 2009 tax return What, When, and Where To File What return you must file as well as when and where you file that return, depends on your status at the end of the tax year as a resident or a nonresident alien. File 2009 tax return Resident Aliens Resident aliens should file Form 1040EZ, 1040A, or 1040 at the address shown in the instructions for that form. File 2009 tax return The due date for filing the return and paying any tax due is April 15 of the year following the year for which you are filing a return (but see the Tip, later). File 2009 tax return Under U. File 2009 tax return S. File 2009 tax return immigration law, a lawful permanent resident who is required to file a tax return as a resident and fails to do so may be regarded as having abandoned status and may lose permanent resident status. File 2009 tax return Extensions of time to file. File 2009 tax return   You are allowed an automatic extension to June 15 to file if your main place of business and the home you live in are outside the United States and Puerto Rico on April 15. File 2009 tax return You can get an extension of time to October 15 to file your return if you get an extension by April 15 (June 15 if you qualify for the June 15 extension). File 2009 tax return Use Form 4868 to get the extension to October 15. File 2009 tax return In addition to this 6-month extension, taxpayers who are out of the country (as defined in the Form 4868 instructions) can request a discretionary 2-month additional extension of time to file their returns (to December 15 for calendar year taxpayers). File 2009 tax return To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. File 2009 tax return Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address:  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. File 2009 tax return   The discretionary 2-month additional extension is not available to taxpayers who have an approved extension of time to file on Form 2350 (for U. File 2009 tax return S. File 2009 tax return citizens and resident aliens abroad who expect to qualify for special tax treatment). File 2009 tax return    If the due date for filing falls on a Saturday, Sunday, or legal holiday, the due date is the next day which is not a Saturday, Sunday, or legal holiday. File 2009 tax return You may be able to file your return electronically. File 2009 tax return See IRS e-file in your form instructions. File 2009 tax return Nonresident Aliens Nonresident aliens who are required to file an income tax return should use Form 1040NR or, if qualified, Form 1040NR-EZ. File 2009 tax return If you are any of the following, you must file a return. File 2009 tax return A nonresident alien individual engaged or considered to be engaged in a trade or business in the United States during 2013. File 2009 tax return (But see Exceptions , later. File 2009 tax return ) You must file even if: Your income did not come from a trade or business conducted in the United States, You have no income from U. File 2009 tax return S. File 2009 tax return sources, or Your income is exempt from income tax. File 2009 tax return A nonresident alien individual not engaged in a trade or business in the United States with U. File 2009 tax return S. File 2009 tax return income on which the tax liability was not satisfied by the withholding of tax at the source. File 2009 tax return A representative or agent responsible for filing the return of an individual described in (1) or (2). File 2009 tax return A fiduciary for a nonresident alien estate or trust. File 2009 tax return You must also file if you want to: Claim a refund of overwithheld or overpaid tax, or Claim the benefit of any deductions or credits. File 2009 tax return For example, if you have no U. File 2009 tax return S. File 2009 tax return business activities but have income from real property that you choose to treat as effectively connected income (discussed in chapter 4), you must timely file a true and accurate return to take any allowable deductions against that income. File 2009 tax return For information on what is timely, see When to file for deductions and credits under When To File, later. File 2009 tax return Exceptions. File 2009 tax return   You do not need to file Form 1040NR or Form 1040NR-EZ if you meet either of the following conditions. File 2009 tax return Your only U. File 2009 tax return S. File 2009 tax return trade or business was the performance of personal services, and Your wages were less than $3,900, and You have no other need to file a return to claim a refund of overwithheld taxes, to satisfy additional withholding at source, or to claim income exempt or partly exempt by treaty. File 2009 tax return You were a nonresident alien student, teacher, or trainee who was temporarily present in the United States under an “F,” “J,” “M,” or “Q” visa and you have no income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc. File 2009 tax return Even if you have left the United States and filed a Form 1040-C, U. File 2009 tax return S. File 2009 tax return Departing Alien Income Tax Return, on departure, you still must file an annual U. File 2009 tax return S. File 2009 tax return income tax return. File 2009 tax return If you are married and both you and your spouse are required to file, you must each file a separate return. File 2009 tax return Form 1040NR-EZ You can use Form 1040NR-EZ if all of the following conditions are met. File 2009 tax return You do not claim any dependents. File 2009 tax return You cannot be claimed as a dependent on someone else's U. File 2009 tax return S. File 2009 tax return tax return. File 2009 tax return If you were married, you do not claim an exemption for your spouse. File 2009 tax return Your taxable income is less than $100,000. File 2009 tax return The only itemized deduction you can claim is for state and local income taxes. File 2009 tax return Note. File 2009 tax return Residents of India who were students or business apprentices may be able to take the standard deduction instead of the itemized deduction for state and local income taxes. File 2009 tax return See chapter 5. File 2009 tax return Your only U. File 2009 tax return S. File 2009 tax return source income is from wages, salaries, tips, taxable refunds of state and local income taxes, scholarship or fellowship grants, and nontaxable interest or dividends. File 2009 tax return (If you had taxable interest or dividend income, you cannot use this form. File 2009 tax return ) You are not claiming any adjustments to income other than the student loan interest deduction or scholarship and fellowship grants excluded. File 2009 tax return You are not claiming any tax credits. File 2009 tax return This is not an “expatriation return. File 2009 tax return ” See Expatriation Tax in chapter 4. File 2009 tax return The only taxes you owe are: The income tax from the Tax Table. File 2009 tax return The social security and Medicare tax from Form 4137 or Form 8919. File 2009 tax return You are not claiming a credit for excess social security and tier 1 RRTA tax withheld. File 2009 tax return You are not filing Form 8959, to figure the amount of Additional Medicare Tax you owe and/or the amount of Additional Medicare Tax withheld by your employer, if any. File 2009 tax return If you do not meet all of the above conditions, you must file Form 1040NR. File 2009 tax return When To File If you are an employee and you receive wages subject to U. File 2009 tax return S. File 2009 tax return income tax withholding, you will generally file by the 15th day of the 4th month after your tax year ends. File 2009 tax return For the 2013 calendar year, file your return by April 15, 2014. File 2009 tax return If you are not an employee who receives wages subject to U. File 2009 tax return S. File 2009 tax return income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. File 2009 tax return For the 2013 calendar year, file your return by June 16, 2014 (because June 15 is a Sunday. File 2009 tax return ) Extensions of time to file. File 2009 tax return   If you cannot file your return by the due date, file Form 4868 or use one of the electronic filing options explained in the Form 4868 instructions. File 2009 tax return For the 2013 calendar year, this will extend the due date to October 15, 2014 (December 15, 2014, if the regular due date of your return is June 16, 2014). File 2009 tax return You must file the extension by the regular due date of your return. File 2009 tax return   In addition to the 6-month extension to October 15, taxpayers whose main place of business is outside the United States and Puerto Rico and who live outside those jurisdictions can request a discretionary 2-month extension of time to file their returns (to December 15 for calendar year taxpayers). File 2009 tax return To request this extension, you must send the IRS a letter explaining the reasons why you need the additional 2 months. File 2009 tax return Send the letter by the extended due date (October 15 for calendar year taxpayers) to the following address: Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215   You will not receive any notification from the IRS unless your request is denied for being untimely. File 2009 tax return When to file for deductions and credits. File 2009 tax return   To get the benefit of any allowable deductions or credits, you must timely file a true and accurate return. File 2009 tax return For this purpose, a return is timely if it is filed within 16 months of the due date just discussed. File 2009 tax return However, if you did not file a 2012 tax return and 2013 is not the first year for which you are required to file one, your 2013 return is timely for this purpose if it is filed by the earlier of: The date that is 16 months after the due date for filing your 2013 return, or The date the IRS notifies you that your 2013 return has not been filed and that you cannot claim certain deductions and credits. File 2009 tax return The allowance of the following credits is not affected by this time requirement. File 2009 tax return Credit for withheld taxes. File 2009 tax return Credit for excise tax on certain uses of gasoline and special fuels. File 2009 tax return Credit for tax paid by a mutual fund (or other regulated investment company) or a real estate investment trust on undistributed long-term capital gains. File 2009 tax return Protective return. File 2009 tax return   If your activities in the United States were limited and you do not believe that you had any gross income effectively connected with a U. File 2009 tax return S. File 2009 tax return trade or business during the year, you can file a protective return (Form 1040NR) by the deadline explained above. File 2009 tax return By filing a protective return, you protect your right to receive the benefit of deductions and credits in the event it is later determined that some or all of your income is effectively connected. File 2009 tax return You are not required to report any effectively connected income or any deductions on the protective return, but you must give the reason the return is being filed. File 2009 tax return   If you believe some of your activities resulted in effectively connected income, file your return reporting that income and related deductions by the regular due date. File 2009 tax return To protect your right to claim deductions or credits resulting from other activities, attach a statement to that return explaining that you wish to protect your right to claim deductions and credits if it is later determined that the other activities produced effectively connected income. File 2009 tax return   You can follow the same procedure if you believe you have no U. File 2009 tax return S. File 2009 tax return tax liability because of a U. File 2009 tax return S. File 2009 tax return tax treaty. File 2009 tax return Be sure to also complete item L on page 5 of Form 1040NR. File 2009 tax return Waiver of filing deadline. File 2009 tax return   The IRS may waive the filing deadline if you establish that, based on the facts and circumstances, you acted reasonably and in good faith in failing to file a U. File 2009 tax return S. File 2009 tax return income tax return (including a protective return) and you cooperate with the IRS in determining your U. File 2009 tax return S. File 2009 tax return income tax liability for the tax year for which you did not file a return. File 2009 tax return Where To File If you are not enclosing a payment, file Form 1040NR-EZ and Form 1040NR at the following address. File 2009 tax return  Department of the Treasury Internal Revenue Service Center Austin, TX 73301-0215 If enclosing a payment, mail your return to:  Internal Revenue Service  P. File 2009 tax return O. File 2009 tax return Box 1303 Charlotte, NC 28201-1303 Aliens from the U. File 2009 tax return S. File 2009 tax return Virgin Islands. File 2009 tax return    If you are a bona fide resident of the U. File 2009 tax return S. File 2009 tax return Virgin Islands during your entire tax year and work temporarily in the United States, you must pay your income taxes to the U. File 2009 tax return S. File 2009 tax return Virgin Islands and file your income tax returns at the following address. File 2009 tax return Virgin Islands Bureau of Internal Revenue 6115 Estate Smith Bay Suite 225 St. File 2009 tax return Thomas, VI 00802   Report all income from U. File 2009 tax return S. File 2009 tax return sources, as well as income from other sources, on your return. File 2009 tax return For information on filing U. File 2009 tax return S. File 2009 tax return Virgin Islands returns, contact the U. File 2009 tax return S. File 2009 tax return Virgin Islands Bureau of Internal Revenue. File 2009 tax return   Chapter 8 discusses withholding from U. File 2009 tax return S. File 2009 tax return wages of U. File 2009 tax return S. File 2009 tax return Virgin Islanders. File 2009 tax return Aliens from Guam or the Commonwealth of the Northern Mariana Islands. File 2009 tax return   If you are a bona fide resident of Guam or the Commonwealth of the Northern Mariana Islands (CNMI) during your entire tax year, you must file your return with, and pay any tax due to, Guam or the CNMI. File 2009 tax return Report all income, including income from U. File 2009 tax return S. File 2009 tax return sources, on your return. File 2009 tax return It is not necessary to file a separate U. File 2009 tax return S. File 2009 tax return income tax return. File 2009 tax return    Bona fide residents of Guam should file their Guam returns at the following address. File 2009 tax return   Department of Revenue and Taxation Government of Guam P. File 2009 tax return O. File 2009 tax return Box 23607 GMF, GU 96921    Bona fide residents of the CNMI should file their CNMI income tax returns at the following address. File 2009 tax return   Department of Finance Division of Revenue and Taxation Commonwealth of the Northern Mariana Islands P. File 2009 tax return O. File 2009 tax return Box 5234 CHRB Saipan, MP 96950   If you are not a bona fide resident of Guam or the CNMI, see Pub. File 2009 tax return 570, Tax Guide for Individuals With Income From U. File 2009 tax return S. File 2009 tax return Possessions, for information on where to file your return. File 2009 tax return Amended Returns and Claims for Refund If you find changes in your income, deductions, or credits after you mail your return, file Form 1040X, Amended U. File 2009 tax return S. File 2009 tax return Individual Income Tax Return. File 2009 tax return Also use Form 1040X if you should have filed Form 1040, 1040A, or 1040EZ instead of Form 1040NR or 1040NR-EZ, or vice versa. File 2009 tax return If you amend Form 1040NR or Form 1040NR-EZ or file the correct return, attach the corrected return (Form 1040, Form 1040NR, etc. File 2009 tax return ) to Form 1040X. File 2009 tax return Print “Amended” across the top. File 2009 tax return Ordinarily, an amended return claiming a refund must be filed within 3 years from the date your return was filed or within 2 years from the time the tax was paid, whichever is later. File 2009 tax return A return filed before the final due date is considered to have been filed on the due date. File 2009 tax return Other Forms You May Have To File You may be required to file information returns to report certain foreign income or assets, or monetary transactions. File 2009 tax return FinCen Form 105 FinCEN Form 105 (formerly Customs Form 4790), Report of International Transportation of Currency or Monetary Instruments, must be filed by each person who physically transports, mails, or ships, or causes to be physically transported, mailed, or shipped, currency or other monetary instruments in a total amount of more than $10,000 at one time from the United States to any place outside the United States, or into the United States from any place outside the United States. File 2009 tax return The filing requirement also applies to each person who receives in the United States currency or monetary instruments totaling more than $10,000 at one time from any place outside of the United States. File 2009 tax return The term “monetary instruments” means the following: Coin and currency of the United States or of any other country, Travelers' checks in any form, Investment securities or stock in bearer form or otherwise in such form that title to them passes upon delivery, Negotiable instruments (including checks, promissory notes, and money orders) in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title to them passes upon delivery, and Checks, promissory notes, and money orders which are signed but on which the name of the payee has been omitted. File 2009 tax return However, the term does not include: Checks or money orders made payable to the order of a named person which have not been endorsed or which contain restrictive endorsements, Warehouse receipts, or Bills of lading. File 2009 tax return A transfer of funds through normal banking procedures (wire transfer) that does not involve the physical transportation of currency or monetary instruments is not required to be reported on FinCEN Form 105. File 2009 tax return Filing requirements. File 2009 tax return   FinCEN Form 105 filing requirements follow. File 2009 tax return Recipients. File 2009 tax return   Each person who receives currency or other monetary instruments in the United States must file FinCEN Form 105 within 15 days after receipt, with the Customs officer in charge at any port of entry or departure, or by mail at the following address. File 2009 tax return Commissioner of Customs  Attention: Currency Transportation Reports Washington, DC 20229 Shippers or mailers. File 2009 tax return   If the currency or other monetary instrument does not accompany the person entering or departing the United States, FinCEN Form 105 can be filed by mail at the above address on or before the date of entry, departure, mailing, or shipping. File 2009 tax return Travelers. File 2009 tax return   Travelers must file FinCEN Form 105 with the Customs officer in charge at any Customs port of entry or departure, when entering or departing the United States. File 2009 tax return Penalties. File 2009 tax return   Civil and criminal penalties are provided for failing to file a report, filing a report containing material omissions or misstatements, or filing a false or fraudulent report. File 2009 tax return Also, the entire amount of the currency or monetary instrument may be subject to seizure and forfeiture. File 2009 tax return More information. File 2009 tax return   More information regarding the filing of FinCEN Form 105 can be found in the instructions on the back of the form. File 2009 tax return Form 8938 You may have to file Form 8938, Statement of Specified Foreign Financial Assets, to report the ownership of specified foreign financial asset(s) if you are one of the following individuals. File 2009 tax return A resident alien of the United States for any part of the tax year. File 2009 tax return A resident alien of the United States who elects to be treated as a resident of a foreign country under the provisions of a U. File 2009 tax return S. File 2009 tax return income tax treaty. File 2009 tax return See Effect of Tax Treaties in chapter 1. File 2009 tax return A nonresident alien who makes an election to be treated as a resident alien for purposes of filing a joint income tax return. File 2009 tax return See chapter 1 for information about this election. File 2009 tax return A nonresident alien who is a bona fide resident of American Samoa or Puerto Rico. File 2009 tax return See Publication 570, Tax Guide for Individuals With Income From U. File 2009 tax return S. File 2009 tax return Possessions, for a definition of bona fide resident. File 2009 tax return You must file Form 8938 if the total value of those assets exceeds an applicable threshold (the “reporting threshold”). File 2009 tax return The reporting threshold varies depending on whether you live in the United States, are married, or file a joint income tax return with your spouse. File 2009 tax return Specified foreign financial assets include any financial account maintained by a foreign financial institution and, to the extent held for investment, any stock, securities, or any other interest in a foreign entity and any financial instrument or contract with an issuer or counterparty that is not a U. File 2009 tax return S. File 2009 tax return person. File 2009 tax return You may have to pay penalties if you are required to file Form 8938 and fail to do so, or if you have an understatement of tax due to any transaction involving an undisclosed foreign financial asset. File 2009 tax return More information about the filing of Form 8938 can be found in the separate instructions for Form 8938. File 2009 tax return Penalties The law provides penalties for failure to file returns or pay taxes as required. File 2009 tax return Civil Penalties If you do not file your return and pay your tax by the due date, you may have to pay a penalty. File 2009 tax return You may also have to pay a penalty if you substantially understate your tax, file a frivolous tax submission, or fail to supply your taxpayer identification number. File 2009 tax return If you provide fraudulent information on your return, you may have to pay a civil fraud penalty. File 2009 tax return Filing late. File 2009 tax return   If you do not file your return by the due date (including extensions), you may have to pay a failure-to-file penalty. File 2009 tax return The penalty is based on the tax not paid by the due date (without regard to extensions). File 2009 tax return The penalty is usually 5% for each month or part of a month that a return is late, but not more than 25%. File 2009 tax return Fraud. File 2009 tax return   If your failure to file is due to fraud, the penalty is 15% for each month or part of a month that your return is late, up to a maximum of 75%. File 2009 tax return Return over 60 days late. File 2009 tax return   If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. File 2009 tax return Exception. File 2009 tax return   You will not have to pay the penalty if you show that you failed to file on time because of reasonable cause and not because of willful neglect. File 2009 tax return Paying tax late. File 2009 tax return   You will have to pay a failure-to-pay penalty of ½ of 1% (. File 2009 tax return 50%) of your unpaid taxes for each month, or part of a month, after the due date that the tax is not paid. File 2009 tax return This penalty does not apply during the automatic 6-month extension of time to file period, if you paid at least 90% of your actual tax liability on or before the due date of your return and pay the balance when you file the return. File 2009 tax return   The monthly rate of the failure-to-pay penalty is half the usual rate (. File 2009 tax return 25% instead of . File 2009 tax return 50%) if an installment agreement is in effect for that month. File 2009 tax return You must have filed your return by the due date (including extensions) to qualify for this reduced penalty. File 2009 tax return   If a notice of intent to levy is issued, the rate will increase to 1% at the start of the first month beginning at least 10 days after the day that the notice is issued. File 2009 tax return If a notice and demand for immediate payment is issued, the rate will increase to 1% at the start of the first month beginning after the day that the notice and demand is issued. File 2009 tax return   This penalty cannot be more than 25% of your unpaid tax. File 2009 tax return You will not have to pay the penalty if you can show that you had a good reason for not paying your tax on time. File 2009 tax return Combined penalties. File 2009 tax return   If both the failure-to-file penalty and the failure-to-pay penalty (discussed earlier) apply in any month, the 5% (or 15%) failure-to-file penalty is reduced by the failure-to-pay penalty. File 2009 tax return However, if you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100% of the unpaid tax. File 2009 tax return Accuracy-related penalty. File 2009 tax return   You may have to pay an accuracy-related penalty if you underpay your tax because: You show negligence or disregard of rules or regulations, You substantially understate your income tax, You claim tax benefits for a transaction that lacks economic substance, or You fail to disclose a foreign financial asset. File 2009 tax return The penalty is equal to 20% of the underpayment. File 2009 tax return The penalty is 40% of any portion of the underpayment that is attributable to an undisclosed noneconomic substance transaction or an undisclosed foreign financial asset transaction. File 2009 tax return The penalty will not be figured on any part of an underpayment on which the fraud penalty (discussed later) is charged. File 2009 tax return Negligence or disregard. File 2009 tax return   The term “negligence” includes a failure to make a reasonable attempt to comply with the tax law or to exercise ordinary and reasonable care in preparing a return. File 2009 tax return Negligence also includes failure to keep adequate books and records. File 2009 tax return You will not have to pay a negligence penalty if you have a reasonable basis for a position you took. File 2009 tax return   The term “disregard” includes any careless, reckless, or intentional disregard. File 2009 tax return Adequate disclosure. File 2009 tax return   You can avoid the penalty for disregard of rules or regulations if you adequately disclose on your return a position that has at least a reasonable basis. File 2009 tax return See Disclosure statement , later. File 2009 tax return   This exception will not apply to an item that is attributable to a tax shelter. File 2009 tax return In addition, it will not apply if you fail to keep adequate books and records, or substantiate items properly. File 2009 tax return Substantial understatement of income tax. File 2009 tax return   You understate your tax if the tax shown on your return is less than the correct tax. File 2009 tax return The understatement is substantial if it is more than the larger of 10% of the correct tax or $5,000. File 2009 tax return However, the amount of the understatement is reduced to the extent the understatement is due to: Substantial authority, or Adequate disclosure and a reasonable basis. File 2009 tax return   If an item on your return is attributable to a tax shelter, there is no reduction for an adequate disclosure. File 2009 tax return However, there is a reduction for a position with substantial authority, but only if you reasonably believed that your tax treatment was more likely than not the proper treatment. File 2009 tax return Substantial authority. File 2009 tax return   Whether there is or was substantial authority for the tax treatment of an item depends on the facts and circumstances. File 2009 tax return Consideration will be given to court opinions, Treasury regulations, revenue rulings, revenue procedures, and notices and announcements issued by the IRS and published in the Internal Revenue Bulletin that involve the same or similar circumstances as yours. File 2009 tax return Disclosure statement. File 2009 tax return   To adequately disclose the relevant facts about your tax treatment of an item, use Form 8275, Disclosure Statement. File 2009 tax return You must also have a reasonable basis for treating the item the way you did. File 2009 tax return   In cases of substantial understatement only, items that meet the requirements of Revenue Procedure 2012-51, 2012-51 IRB 719 (or later update) are considered adequately disclosed on your return without filing Form 8275. File 2009 tax return   Use Form 8275-R, Regulation Disclosure Statement, to disclose items or positions contrary to regulations. File 2009 tax return Transaction lacking economic substance. File 2009 tax return   For more information on economic substance, see section 7701(o). File 2009 tax return Foreign financial asset. File 2009 tax return   For more information on undisclosed foreign financial assets, see section 6662(j) or the Instructions for Form 8938. File 2009 tax return Reasonable cause. File 2009 tax return   You will not have to pay a penalty if you show a good reason (reasonable cause) for the way you treated an item. File 2009 tax return You must also show that you acted in good faith. File 2009 tax return This does not apply to a transaction that lacks economic substance. File 2009 tax return Filing erroneous claim for refund or credit. File 2009 tax return   You may have to pay a penalty if you file an erroneous claim for refund or credit. File 2009 tax return The penalty is equal to 20% of the disallowed amount of the claim, unless you can show a reasonable basis for the way you treated an item. File 2009 tax return However, any disallowed amount due to a transaction that lacks economic substance will not be treated as having a reasonable basis. File 2009 tax return The penalty will not be figured on any part of the disallowed amount of the claim that relates to the earned income credit or on which the accuracy-related or fraud penalties are charged. File 2009 tax return Frivolous tax submission. File 2009 tax return   You may have to pay a penalty of $5,000 if you file a frivolous tax return or other frivolous submissions. File 2009 tax return A frivolous tax return is one that does not include enough information to figure the correct tax or that contains information clearly showing that the tax you reported is substantially incorrect. File 2009 tax return For more information on frivolous returns, frivolous submissions, and a list of positions that are identified as frivolous, see Notice 2010-33, 2010-17 IRB 609 available at www. File 2009 tax return irs. File 2009 tax return gov/irb/2010-17_irb/ar13. File 2009 tax return html. File 2009 tax return   You will have to pay the penalty if you filed this kind of return or submission based on a frivolous position or a desire to delay or interfere with the administration of federal tax laws. File 2009 tax return This includes altering or striking out the preprinted language above the space provided for your signature. File 2009 tax return   This penalty is added to any other penalty provided by law. File 2009 tax return Fraud. File 2009 tax return   If there is any underpayment of tax on your return due to fraud, a penalty of 75% of the underpayment due to fraud will be added to your tax. File 2009 tax return Failure to supply taxpayer identification number. File 2009 tax return   If you do not include your social security number (SSN) or individual taxpayer identification number (ITIN) or the SSN or ITIN of another person where required on a return, statement, or other document, you will be subject to a penalty of $50 for each failure. File 2009 tax return You will also be subject to a penalty of $50 if you do not give your SSN or ITIN to another person when it is required on a return, statement, or other document. File 2009 tax return   For example, if you have a bank account that earns interest, you must give your SSN or ITIN to the bank. File 2009 tax return The number must be shown on the Form 1099-INT or other statement the bank sends you. File 2009 tax return If you do not give the bank your SSN or ITIN, you will be subject to the $50 penalty. File 2009 tax return (You also may be subject to “backup” withholding of income tax. File 2009 tax return )   You will not have to pay the penalty if you are able to show that the failure was due to reasonable cause and not willful neglect. File 2009 tax return Criminal Penalties You may be subject to criminal prosecution (brought to trial) for actions such as: Tax evasion, Willful failure to file a return, supply information, or pay any tax due, Fraud and false statements, or Preparing and filing a fraudulent return. File 2009 tax return Prev  Up  Next   Home   More Online Publications