- TypeWebinar
- Location New York, United States
- Date 30-08-2017
Education/Teaching/Training/Development
Accounting/Financial/Banking/Insurance
Key Take Away
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.
Overview
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.
why should you attend
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, & 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.
Areas Covered in this Webinar
Learning Objectives
During this 1099 compliance training, we will begin with the methods of identifying workers who may be non-resident aliens and proceed to the forms and methods of collecting the necessary information to determine whether back-up withholding is required. Next we will examine the rules and forms for proper depositing of back-up withholding taxes and the required reporting to the worker as well as to the IRS. Please note, beginning in 2014 the number and complexity of the forms have both increased due to the implementation of FATCA, the Foreign Accounts Tax Compliance Act. This course will briefly introduce FATCA and show the impact on the Forms W-8 (now five forms instead of four). The course will focus on Chapter 3 of the internal revenue code related to the payment of FDAP income to non-resident aliens (including an explanation of FDAP income).
Who Will Benefit
Speakers Profile
Miles Hutchinson
Experienced CGMA and businessman Miles Hutchinson will explain the best practices to help you ensure your W-9 information matches that of the IRS – before the 1099’s go out – even before making the first payment to a new vendor.
He will show you how to handle the remaining B-Notices that sneak through in the most efficient manner and help ensure your company never has to pay a penalty for failure to comply with these burdensome regulatory requirements.
For more details and updates please visit webinar website
AtoZ Compliance. 2754 80th Avenue Toll Free: +1- 844-414-1400 Tel: +1-516-900-5509 Fax;516-300-1584
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