Define the Term "Nonresident Alien" and Discuss the Special Tax

question 82

Essay

Define the term "nonresident alien" and discuss the special tax consequences of U.S. taxation on various types of income of a nonresident alien.

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Definitions:

ARM

Adjustable Rate Mortgage; a type of mortgage loan where the interest rate varies throughout the loan period based on an index.

Equity

The amount of a home that an owner actually owns.

Loan Balance

The amount of money that remains to be paid on a loan, excluding interest or fees that may accumulate.

Sales Tax

A percentage paid to the government of sales on products or services.