My CPA mentioned IRC 7701(a)(30) — what does 'U.S. person' mean for my foreign-owned LLC?
I live in Germany and own a single-member LLC in Wyoming. My CPA keeps referencing IRC Section 7701(a)(30) when explaining why I file differently than a domestic owner. He says I'm not a 'U.S. person' under the Code, but I don't really understand what that means in practice. Does this affect what forms I file? Does it change how the IRS treats my LLC's income? I want to understand the actual legal definition so I can make sense of the rest of my tax obligations.
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