PART II – Forms W-8BEN & W-8BEN-E: What Are They Used For? Which One Must I Complete?

Part I of this blog post explained how Form W-8BEN is used for so-called Chapter 3 income tax withholding purposes covering topics such as the types of income subject to US-source withholding when paid to a foreign (non-US) person; exemptions, length of time for validity of the Form.  It also provided an overview of how … Continue reading PART II – Forms W-8BEN & W-8BEN-E: What Are They Used For? Which One Must I Complete?

PART I:  What is Form W-8BEN, What is it Used For, Must I Complete It?

Lately, I have been fielding many questions about Form W-8 BEN, it’s brother, Form W-8BEN-E, and related family members Forms W-8ECI, W-8IMY, and W-8EXP. What are these things? And why are they giving you such a headache?  Let’s set out some basics one step at a time.  Today’s blog post will detail all the nuances … Continue reading PART I:  What is Form W-8BEN, What is it Used For, Must I Complete It?

“US Source” Income – What Is It? Why Should I Care?

As many of my readers may know, there is a 30% withholding tax imposed on certain payments to foreign persons (whether individuals or entities) by US-payors.  The 30% rate may be reduced or eliminated if a relevant treaty can apply. Withholding is required only for particular types of income provided the income has not been … Continue reading “US Source” Income – What Is It? Why Should I Care?

Confused Yet? W-8BEN, W-8BEN-E, Foreign ITINs and Dates of Birth

Compliance with the Foreign Account Tax Compliance Act (“FATCA”) enacted 8 years ago, has resulted in a plethora of new US tax reporting requirements, forms and rules.  Unfortunately, all of these continue to evolve and become more and  more complex with the passage of time.  The year 2014 marked a significant year for the Form W-8BEN, a … Continue reading Confused Yet? W-8BEN, W-8BEN-E, Foreign ITINs and Dates of Birth

Reminder – If You Hate Your Spouse As Much as You Hate Paying Taxes …

My readers know that broad US tax reform was enacted in December under the commonly called Tax Cuts and Jobs Act (“TCJA”).  Today’s post is a reminder of how the new tax rules will impact any US spouse who will be either paying or receiving alimony.   The clock is ticking and action must be taken … Continue reading Reminder – If You Hate Your Spouse As Much as You Hate Paying Taxes …