Purchase any WEBINAR and get
10% Off
CODE: SAVE10
T&C applicable, please referFAQ
Validity : 19th Apr'24 to 29th Apr'24
Nonresident Alien Vendors - How to Handle the Information Reporting and Backup Withholding Requirements of the IRS
In just 90 minutes you will gain the following insights:
- How to determine whether Nonresident Aliens are working for you
- Review the five forms W-8 including the new W-8BEN-E just released in Q1-2014
- Learn about the drafts of revised forms W-8 soon to be released
- Learn how to determine which W-8 to provide to the NRA
- Discover how a NRA individual must support their claim of exemption from withholding
- Learn the best way to handle questions form NRAs who do not understand your requests or the forms
- Examine a tax treaty and learn how to use it to confirm a claim of exemption from or reduced rate of backup withholding
- Discover how to make your backup withholding deposits timely and keep the IRS from confusing them with your payroll tax withholding deposits
- Study the 1042-S and related forms for filing and reporting backup withholding on the Annual Withholding Tax Return
- Avoid the penalties for under-withholding and failure to report your NRA’s
- Discover the best practices for managing NRA information reporting and backup withholding
Overview of the webinar
How do you know whether you can accept a W-9 from someone or you must request a W-8 instead? What if you send them a 1099 when you should have sent them a 1042-S. How will you deal with the IRS demand for the backup withholding you failed to deduct from the Nonresident Alien’s (NRA’s) payments? The IRS is working hard to reduce the delinquent tax burden. They know we are becoming relatively compliant with our 1099 reporting, but they also know we are far less sure of ourselves when it comes to identifying and performing backup withholding on our NRA’s. Collecting the tax due from NRAs working in the U.S. is a Tier 1 audit issue. This tax burden is minimized when companies making payments to NRAs for dependent and independent personal services properly withhold on these payments.
Who should attend?
- Information Reporting Officers
- Tax Managers
- Compliance Officers
- Compliance Managers
- CFOs
- Controllers
- Accounting Managers
- Bank Managers
- Auditors
- IT Managers
- Risk Managers
Why should you attend?
Join us to obtain the best tools available to identify your Nonresident Alien payees (NRA’s) and bring your company into compliance with the 30% backup withholding requirements on dollar one. In just 90 minutes, you can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes and adequate documentation to ensure your NRA’s are properly handled according to IRS and tax treaty regulations. You will learn how to obtain the treaties and confirm exemption claims made by your NRA’s with the IRS.
Faculty - Mr.Miles Hutchinson
Miles Hutchinson has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a highly sought-after professional speaker and consultant who has presented over 1000 seminars and training sessions on a myriad of business and financial topics, such as financial analysis and modeling, accounting matters, strategic planning, and compliance with the Sarbanes-Oxley Act. His clients include Abbott Labs, Citicorp, the FBI, GE, Pfizer and the US Marine Corps.