Non Resident Alien Payee (1042-S, W-8) - How to Handle the Information Reporting and Backup Withholding Requirements of the IRS

Collecting the tax due from NRAs (nonresident aliens) 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. This training program will review the five forms W-8 including the new W-8BEN-E just released in Q1-2014. It will help attendees establish which W-8 to provide NRAs working for them.

Why Should You Attend:

• 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 NRA’s payments?

This webinar will help attendees identify your NRA payees and bring your company into compliance with the 30% backup withholding requirements on dollar one. By the end of the course, 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 NRAs are properly handled according to IRS and tax treaty regulations. Attendees will also learn how to obtain the treaties and confirm exemption claims made by your NRAs with the IRS.