Non Resident Taxpayers and Foreign Investors
Do I have to pay U.S. taxes on my income in my home country?
Yes, You are subject to U.S. taxes only if you are a nonresident alien, although, if you are a resident alien, you are subject to U.S. income taxes on your worldwide income in the same manner as is a U.S. citizen.
If a foreign seller doesn't have an Individual Tax Identification Number (ITIN) and is willing to pay the Internal Revenue Service. Can the money just be sent to the Internal Revenue Service without an Individual Tax Identification Number (ITIN) regarding the sale of a home?
Yes and No, as a seller, you cannot send the money directly to the Internal Revenue Service, the title company shall hold the funds in an escrow account. Internal Revenue Service requires that sellers of real property have ITINs.
If a relative gives me a gift in cash, is the gift taxable?
Yes and No. If the relative is a U.S. citizen, they may be subject to a U.S. gift tax; however, if the relative is not a U.S. citizen who is not domiciled in the United States then the gift is not property located in the United States, there is no U.S. gift tax.
(This is subject to review depending on the cash gift amount).
(This is subject to review depending on the cash gift amount).
I have a child who is a U.S. citizen with a Social Security Number. Can I claim him as a dependent on my tax return? (I understand that this will depend on my present condition of residency.)
Yes, if you have your Individual Tax Identification Number (ITIN).
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