KB Payments

Definition: The residence of the payor (also referred to as debtor) determines the source of interest income. Interest payments from U.S. residents and U.S. corporations… Read More »Interest

Definition: The Internal Revenue Code (IRC) defines general category income as income other than passive income. It also includes income that does not fall into… Read More »Income

Definition: FTC (The Foreign Tax Credit) is allowed for taxes paid or accrued on a foreign source lump-sum distribution from a pension plan. Special formulas… Read More »Lump Sum Distribution

Definition: An offshore account is an account maintained at an office or branch of a bank or other financial institution located outside the United States… Read More »Offshore Accounts

Definition: A nonresident alien (NRA) is subject to U.S. income tax on income that is effectively connected with a trade or business in the United… Read More »NRA Refunds

Definition: The source of income from the performance of personal services is the place where the services are performed. Personal services income includes salaries, wages,… Read More »Non-employee Compensation

Definition: The source of rental and royalty income is determined by the place where the property is located or used. The source of royalty income… Read More »Royalties

Definition: The source of rental and royalty income is determined by the place where the property is located or used. The source of rental income… Read More »Rents

Definition: Foreign source income is generally not treated as ECI, but there are a few exceptions for certain items of income that are attributable to… Read More »Foreign Source Income

Definition: A Registration-Required Obligation is any obligation (including any obligation issued by a governmental entity) that meets the following requirements: The obligation must not be… Read More »Registration-required Obligation