Form 8858 explained for 2026: who files for a foreign disregarded entity or foreign branch, the six filer categories, schedules, due dates, and penalties.
Read full articleForm 8621 explained for 2026: who must file for a PFIC, the $25,000 exception, QEF and mark-to-market elections, and a worked excess distribution example.
Read full articleGILTI for individual U.S. shareholders in 2026: the net CFC tested income rename, the section 962 election, the high-tax exclusion, and a worked example.
Read full articleForm 8854 explained: who files it, the three covered expatriate tests, the 2026 exit tax exclusion of $910,000, and the five-year certification trap.
Read full articleForm 1042-S explained for the person who receives it: income and exemption codes, the box 10 credit, when to file Form 1040-NR, and treaty rate refunds.
Read full articleForm 1040-NR is the U.S. return for nonresident aliens. Who must file, 30 percent vs connected income, the Florida rental election, and the 16-month rule.
Read full articleForm 8840 keeps a snowbird who meets the substantial presence test a nonresident. Who qualifies, the 183-day bar, deadlines, and the treaty fallback.
Read full articleForm 1116 claims the foreign tax credit. The $300 and $600 skip rule, the limitation fraction, income categories, and the one-back, ten-forward carryover.
Read full articleThe 2026 foreign earned income exclusion is $132,900. When Form 2555 beats the foreign tax credit, what it costs you, and the five-year revocation trap.
Read full articleForm 5472 reports transactions between a U.S. entity and its foreign owners. Who must file, the $25,000 penalty, and the pro forma Form 1120 paper route.
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