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| Form W8BEN, Form 1042-S Reporting, Compliance, International Payroll , Scholarship, Gambling Income Form 1042-S Reporting, Roadmap to compliance, International Payroll Form 1042-S, Tax Treaty, Form 8233, Form W-8BEN Scholarship, Gambling Income Non Resident Taxation Understand compliance requirements for hiring a non resident alien by universities, businesses, non profits. Compliance requirements for Form 1042-S, W-8BEN, W-9, 8233, International Student Taxes, Withholding agent, tax treaties, scholarship and Fellowship income, university Form 1042-S compliance. Form 1042-S Scholarship, Gambling income paid to a Non Resident Alien Taxation. |
10-13-2008, 04:29 PM
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Form W-8BEN and Form W-9
Form W-8BEN and Form W-9
American citizens and residents living overseas are often asked to complete Form W-9 by U.S. financial institutions and other withholding agents to overcome any presumptions of foreign status. Form W-9 is used to confirm that the payee is a U.S. person, his or her Social Security Number or Individual Taxpayer Identification Number is correct, and the payee is not subject to backup withholding due to the failure to report interest and dividend income. Failure to provide a Form W-9 when requested may lead to backup withholding or withholding at the 30% rate typically applied to foreign persons. Similarly, foreign persons are often asked to complete Form W-8BEN to establish that they are not a U.S. person, are the beneficial owner of certain U.S. income, and claim a reduced rate of U.S. withholding as a resident of a foreign country with which the U.S. has an income tax treaty. Failure to provide a Form W-8BEN when requested may lead to withholding at a 30% rate. Hope it helps!
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The No 1 Tax Preparation Service for International Students, Foreign Nations, Greencard holders and US Citizens deployed overseas. Save Taxes on H1B,OPT,F1,J1,L1 and other visas. Apply for Non Resident Tax Forms 1040NR,1040NR-EZ, Form 8843, Form 843 and Non Resident State Tax Forms like Form 540NR. Visit http://www.VisaTaxes.com Your questions answered for Free in the Tax Forum http://forum.VisaTaxes.com   
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