The IRS is heavily focusing its nonresident alien tax regulations compliance audits on accounts payable operations. If your organization outsources work to an overseas contractor, if you bring a foreign contractor in for short-term work, or if you are asked to pay a foreign consultant’s invoice, this one-day seminar will help you to make sense of the regulations surrounding payments to foreign vendors.

Agenda:-

• Learn to distinguish a 1042-S reportable non-resident alien payee from a 1099 reportable resident alien or U.S. citizen payee
• Get tips on recognizing how to handle visas and green cards, and using the IRS substantial presence test to identify when a payment should be 1042-S or 1099 reportable
• Discover why where the services are performed is so important to determine your 1042-S reporting responsibilities
• Learn how to use Forms W-8 and 8233 to validate payee claims for treaty benefits
• Address rules for 1042-S tax withholding and how to report it

Why Should You Attend:-

• You make payments to foreign vendors and are confused as to how to validate Forms W-8 and 1042-S report those payments
• You are concerned that your organization does not have appropriate policies in place for identifying when W-8 or 1042-S reporting situations arise
• You have a solid understanding of 1099 reporting rules and want to get to the next level in terms of protecting your organization from an IRS audit