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International Tax Statistics Foreign Corporations With U.S. Business Operations (Form 1120F)

A FSC was a foreign corporation (i.e., incorporated abroad) created by "parent" shareholders (mostly corporations).  Almost all FSCs were owned by domestic corporations (i.e., incorporated in the United States); however, owners of a FSC were generally referred to as "shareholders" or “related suppliers’, since a FSC may have also been owned by an individual, a partnership, or a trust or estate. 

ABCs of Foreign Tax credit for individuals - YouTube video text script

A nonresident alien (NRA) generally is subject to U.S. income tax only on income that is U.S. sourced.

The Internal Revenue Service (IRS) has received the following questions about Central Withholding Agreements (CWAs) from taxpayers and stakeholders during phone forums and other outreach events. The answers to these questions provide responses to general inquiries and are not citable as any type of legal authority.

The qualified business income (QBI) deduction allows you to deduct up to 20 percent of your QBI. Learn more.

Income paid to nonresident aliens other than wages should be withheld upon using the following rules.

U.S. citizens and resident aliens abroad file Form 2350, Application for Extension of Time to File U.S. Income Tax Return, to ask for an extension of time to file their tax return only if they expect to file Form 2555 or 2555-EZ and need the time to meet either the bona fide residence test or the physical presence test to qualify for the foreign earned income exclusion and/or the foreign housing exclusion or deduction.

September 16, 2022 — A Los Angeles man was sentenced in federal court today to 38­ months in prison for his participation in BitConnect, a massive fraudulent cryptocurrency investment scheme, which defrauded thousands of investors from the United States and abroad.

Topic no. 559, Net investment income tax