Accounts Payable CD Library!
Reporting Requirements for Payments Made to Non-US Persons: A "How-To" Session
Order the CD ($239) here. Special 90-minute session. CD includes Q&A between audience and speaker.
With the IRS taking an even closer look at income paid to non-US persons, also referred to as nonresident aliens (NRA), it is more important than ever that you get the reporting right. This means establishing a best practice program right from the start. The rules are quite different from 1099 and W-9 requirements—and of course the forms are different as well.
The reporting of NRA Vendor Payments is a hidden audit issue with potentially large exposure for both corporations (especially multi-nationals) and colleges and universities. To make matters worse, the IRS has announced plans to increase enforcement initiatives in this area. But you can protect your organization. Accounts Payable Now & Tomorrow is pleased to welcome back the highly-rated Cyrus Daftary for an expanded 90-minute session.
Please join us for an information-packed 90 minutes as Cyrus Daftary explains the following:
* What the IRS means by a non-US person
* When you must report payments and withhold on payments to NRA
* What questions you should ask to establish your reporting responsibilities
* The differences between W-8 and W-9s
* What form 8233 is and when you should use it
* What form 1042 and 1042-S is and when they are used
* The changes on the new 1042-S form
* What documentation you need to get from your NRA payees
* What tax treaties are and how they affect your withholdings
* When to withhold taxes
* How you should deposit withheld taxes
* IRS audit and enforcement actions
* Common mistakes and omissions and what you can do to avoid them
* Learn more about the Internal Revenue Manual 4.10.21.
If you made any of the following payments this year, you cannot afford to miss this session.
Interest, dividends, or capital gains to NRAs
Honorariums to foreign individuals
Compensation to foreign workers
Compensation for services of foreign consultants or independent contractors
Royalties to foreign persons or entities
Scholarships, fellowships or grants to foreign researchers or students
Order the CD here.
About Our Expert:
Cyrus Daftary is a partner at Burt, Staples and Maner, LLP specializing in international taxation and regulatory compliance. Mr. Daftary has extensive experience with the United States withholding and reporting rules for U.S. and non-U.S. persons, as well as the U.S. Patriot Act and various anti-money laundering regimes, the European Savings Directive, and e-commerce issues. He has worked with a large number of major financial institutions and multi-national corporations, and is an advisor and executive member of Compliance Technologies International, LLP. A popular speaker and writer, Mr. Daftary is a co-author of three editions of the E-Business Legal Handbook, and has taught courses on cyber-law, Internet taxation, and e-commerce as an adjunct professor at Suffolk University School of Law, Northeastern University’s Master of Taxation program and Suffolk University’s Frank S
Order the CD here.
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