IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Withholding of Taxes on Payments to Foreign Persons and Entities (OnDemand Webinar)

$199.00

SKU: 411490EAU

Description

Gain a better understanding of reporting, filing, and tax deposit requirements of a withholding agent.Understanding the responsibilities and reporting requirements for U.S. persons making payments to foreign individuals and entities (i.e., withholding agents) is crucial. It ensures that those responsible for handling U.S. source income for foreign payees properly withhold taxes before making payments. Additionally, those advising on these matters will be better equipped to implement procedures that help avoid common filing errors, penalties, and interest due to late filing or payment of withheld taxes.

Date: 2024-09-19 Start Time: End Time:

Learning Objectives

Introduction
• Current Withholding System
• Imposition
• Purpose
• Reporting

Origins
• History of the U.S. Tax Withholding System

Definitions
• Non-Resident Alien
• Withholding Agent
• Beneficial Owner
• FDAP
• Withholdable Payment
• Flow-Through Entity
• Foreign Financial Institution

Withholding Agent Responsibilities
• Step 1. Determine U.S. or Foreign Status
• Step 2. Determine Payment Type
• Step 3. Determine Withholding
• Step 4. Reporting and Remitting

Reporting
• Form 1042
• Form 1042-S
• Reporting Obligation
• Filing and Due Dates
• Tax Deposits

AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Jack Brister-Consultant

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Withholding of Taxes on Payments to Foreign Persons and Entities (OnDemand Webinar)

$219.00

SKU: 405531EAU

Description

Make sure you are compliant with the IRS international withholding standards.
In an increasingly global society, many U.S. payers of items of income are unknowingly subject to withholding tax obligations for payments to foreign individuals and entities. Understanding the rules for withholding on these payments can reduce liability to the IRS. Identify when income is subject to withholding, evaluate the proper procedures to withhold and comply with the proper documentation.

Date: 2019-01-11 Start Time: End Time:

Learning Objectives

Types of Income Subject to Withholding
• FATCA and the Threat of Withholding to Induce Disclosure
• Dividends, Interest, Rents and Royalties
• Compensation
• Partnership Income
• Withholding on Purchases of U.S. Real Estate

Determining the Beneficial Owners of Income
• Documentation
• Presumptions in the Absence of Documentation

Intermediaries
• Qualified Intermediaries
• Nonqualified Intermediaries

Compliance
• Forms 1042 Package
• Form 8804 for Partnership Withholding Tax
• Complying With the Foreign Investment in Real Property Tax Act

CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Adam R. Konrad-Reinhart Boerner Van Deuren S.C., Robert Misey – Reinhart Boerner Van Deuren S.C.