Susan Turcotte

FDAP income (Fixed, Determinable, Annual, or Periodical income) is a category of US-source income that the IRS taxes at a flat 30% rate when paid to nonresident aliens and foreign entities. FDAP covers interest, dividends, rents, royalties, and compensation from US sources. ...

A Form 1099 reports payments or investment income paid directly to you – contractor fees, dividends, or interest. A Schedule K-1 reports your allocated share of income, deductions, or credi...

Taxpayer Filed 2020 Tax Return; Receives IRS Notice that Return Not Filed ...