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Form W-8 Validation Best Practices (Course Id 1575)

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Author : Steven D Mercatante, Tax Attorney, Author
Status : Production
CPE Credits : 2.5
IRS Credits : 2
Price : $22.45
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1575

Description :

IRS Forms W-8 require organizations like yours to collect very specific information about your payees. Besides regulating withholding, payers must make sure that the forms are current, complete and accurate. How can you ensure a proper form that will not subject your company to penalties, interest or tax?

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more common problems experienced by accounts payable and tax departments related documenting and validating payee information using the IRS Forms W-8. He not only identifies the issues, but offers solutions and best-practices for addressing them.

Usage Rank : 0
Release : 2019
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 01-Oct-2019
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - IRS Enrolled Agents - 1575

Keywords : Taxes, Form, W-8, Validation, Best, Practices, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Learn what's new for Form W-8 due diligence rules
  • Get the latest strategies for validating IRS Forms W-8, and 8233
  • Identify Form W-8 dos and donts
  • Get proven techniques for handling payee treaty benefit requests on Forms W-8 and the steps to validate foreign TIN's
  • Learn when to use each form W-8: Scenarios to consider
  • Receive best practices for validating payees from U.S. possessions
  • Discover key data points to capture from Forms W-8/W-9 and ensure compliance with IRS reasonable cause regulations
  • Spot Form W-8 & W-9 red flags before it's too late
Course Contents :

Chapter 1 - Form W-8 Validation Best Practices

Introduction

How the Form W-9 Influences Your W-8 Documentation and Validation Efforts

W-9 Red Flags For Non-U.S. Payees

Why Use a W-9 to solicit TIN for 1099 Reporting?

W-9s and the U.S. vs. Non-U.S. Debate

W-9 Record Retention Tips

The W-8

Practical W-8 Steps - Always Start With The W-9

The W-8: Watch Those Payees

Watch Out For Those Payees From U.S. Possessions

Documenting Non-Resident Alien Payee Tax Status On The W-8

The W-8BEN-E

The W-8BEN

The Form 8233

The Form W-8ECI 

The Form W-8IMY

The Form W-8EXP

Validity Periods For Forms W-8

1042/1042-S Reporting

Glossary

CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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