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Tips for Handling Recent Changes to Forms W-8 and W-9 - v10 (Course Id 1691)

QAS / Registry / EA
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Author : Steven D Mercatante, Tax Attorney, Author
Course Length : Pages: 37 ||| Review Questions: 14 ||| Final Exam Questions: 23
CPE Credits : 4.5
IRS Credits : 4
Price : $40.45
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1691

Description :

IRS Forms W-8 and W-9 requires 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 CPA’s, accounts payable, and tax departments related documenting and validating payee information using the IRS Forms W-8 and W-9. He not only identifies the issues, but offers solutions and best-practices for addressing them.

Usage Rank : 0
Release : 2020
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 09-Sep-2020
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 - Text - Technical - NASBA Registry - IRS Enrolled Agents - 1691

Keywords : Taxes, Tips, Handling, Recent, Changes, Forms, W-8, W-9, v10, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Learn what's new for Form W-9/W-8 due diligence rules
  • Discover the latest strategies for validating IRS Forms W-9, W-8, and 8233
  • Develop best practices strategies for backup withholding (including rules and determining your deposit schedule)
  • Identify Form W-9 dos and donts: including tips on validating Form W-9's when multiple names are provided, handling undocumented payees, service payments that require the reporting of a related good, and validating exempt organization payees
  • Discover 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
  • Learn how to document & validate sole proprietors, single member LLCs, partnerships, LLCs owned by other entities, S-Corps, and more Create processes for dealing with recent IRS changes to the Form W-9
Course Contents :

Chapter 1 - Tips for Handling Recent Changes to Forms W-8 and W-9


Key W-9 Trouble Spots

When You Need to Update Forms W-9

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

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

the Payee Refuses to Provide Their TIN on the W-9

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

Validating the W-9: Watch Out for Corporations and LLCs

The IRS TIN Match Program

Payee Claims To Be An Exempt Organization: What to Do

Backup Withholding And Reporting

B-Notice Response Best Practices

W-9 Record Retention Tips

The W-8

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

The W-8: Watch Those Payees

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


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