Handling Nonresident Alien Information Reporting Using Forms 1042 and W-8 2 Credits
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Are you prepared to navigate the intricate landscape of IRS requirements, specifically addressing backup withholding for Nonresident Aliens (NRAs)? The IRS is intensifying efforts to alleviate the burden of delinquent taxes. While companies increasingly comply with 1099 reporting, challenges persist in accurately identifying and executing backup withholding for NRAs. This issue of collecting taxes from NRAs working in the U.S. ranks as a Tier 1 audit concern for the IRS. Learn how proper withholding on payments made to NRAs for various services can significantly minimize this tax burden.
Our CE Tax webinar is a vital resource for professionals across industries - from NGOs and educational institutions to government bodies and public practices - overseeing information reporting compliance. Gain the essential knowledge needed to identify NRA payees and ensure your company aligns with the 30% backup withholding regulations. This online course empowers you to devise a robust strategy to propel your company or clients towards comprehensive regulatory adherence, process efficiency, and meticulous documentation, ensuring full compliance with IRS and tax treaty stipulations governing NRAs.
Join us in unraveling the complexities of handling foreign independent contractors and tax collection through expanded information reporting via the 1042-S. Explore streamlined approaches to this time-consuming reporting obligation. Elevate your understanding of regulations, tax treaties, and best practices to authenticate exemption claims by NRAs with the IRS. Prepare yourself for the upcoming shift to electronic filing with the IRS, a mandate set to affect nearly all entities starting from the 2024 filing season.Â
Major topics:
Don't miss this opportunity to fortify your expertise and ensure seamless compliance in NRA reporting and tax obligations.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01822-24-S) | 2 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-01822-24-S) | 2 CE | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1461) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01822-24-S) | 2 CE | Approved |
| Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01822-24-S) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01822-24-S) | 2 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01822-24-O) | 2 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-01822-24-O) | 2 CE | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1461) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01822-24-O) | 2 CE | Approved |
| Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01822-24-O) | 2 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01822-24-O) | 2 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
Credits
2
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,700 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications. He is the author of several useful accounting and tax tools available at www.soxpolicies.com and www.salestaxadvisors.com. His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.
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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
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How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
EW
Really informative content and slides and clear, engaging delivery. Will definitely be referring to the handout going forward.
GC
Presentation was very well organized and provided a lot of in-depth information. Presenter was also very knowledgeable.
.webp "Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)")
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