MYCPE ONE

The Form 1042-S & W-8 Update 2 Credits 2 Credits

The Form 1042-S & W-8 Update 2 Credits 2 Credits

Complying with IRS Information Reporting for Nonresident Aliens

Learning mode

Live Webinar
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Access to this course is included with a MYCPE ONE subscription.

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Important Note: This course was developed prior to the enactment of the One Big Beautiful Bill (OBBB), and content may not reflect the latest tax reforms. We are actively updating our courses to reflect the new legislation.

If you want to attend courses related to OBBB, please click here.
AI Review Summary

Generated by AI based on all course reviews

Learning Objectives

  • Ensure compliance with NRA withholding and reporting regulations.
  • Analyze the correct Form W-8 for various payees.
  • Discuss NRA exemption claims under tax treaty provisions.
  • Analyze how to prepare accurate Form 1042-S filings and timely deposits.
  • Implement best practices for electronic filing and documentation.

Course Overview

Do you have a plan to address IRS demands for backup withholding on payments made to Nonresident Aliens (NRAs)? As the IRS ramps up efforts to reduce the delinquent tax burden, it has identified compliance with NRA withholding as a top audit priority. While companies have made strides in 1099 reporting, many still struggle with the complexities of backup withholding and information reporting for NRAs. This issue is critical, as accurate compliance can significantly minimize tax liabilities and penalties.

This course equips professionals with the knowledge to identify NRA payees, comply with 30% backup withholding requirements, and navigate the intricacies of tax treaties and IRS regulations. Whether you’re filing for a company, NGO, educational institution, or government agency, this course offers practical guidance to bring your organization into full compliance. You’ll also learn how to prepare for the 2024 filing season when electronic filing becomes mandatory for most filers.

Major Topics:

  • IRS Backup Withholding Requirements
  • Navigating Forms W-8 Variations
  • Tax Treaties and Exemptions
  • Form 1042-S Reporting Essentials
  • Electronic Filing Mandates

By attending, you’ll gain actionable insights to streamline processes, ensure proper documentation, and confidently handle IRS requirements for NRAs. Join us to strengthen your compliance strategy and avoid costly pitfalls.

Click Here to explore more Enrolled Agent CE courses.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

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-03332-26-O) 2 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02798) 2 CE Approved
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 2 CPE Approved
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-03332-26-O) 2 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02798) 2 CE Approved
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-03332-26-O) 2 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 2 CPE Approved

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC, in accordance with the standards set forth in Circular 230 section 10.6, grants Continuing Education (CE) credits based on a 50-minute contact hour. As an IRS-approved CE provider, MY-CPE offers CE credits for Enrolled Agents (EA), Annual Filing Season Program (AFSP) participants, Tax Professionals, and Enrolled Retirement Plan Agents (ERPA), ensuring compliance with all regulatory requirements and supporting the maintenance of their professional credentials. (MY-CPE LLC 1600 Highway 6 South, Suite 250 Sugar Land, TX 77478, Email: support@my-cpe.com, Phone: 646-688-2884)

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC, in accordance with the standards set forth in Circular 230 section 10.6, grants Continuing Education (CE) credits based on a 50-minute hour. MY-CPE LLC is approved by the California Tax Education Council (CTEC) to offer continuing education courses that count towards the annual continuing education requirement for CTEC Registered Tax Preparers. Additional information regarding registration as a tax preparer can be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free at (877) 850-2832, or by visiting www.ctec.org. (MY-CPE LLC 1600 Highway 6 South, Suite 250 Sugar Land, TX 77478, Email: support@my-cpe.com, Phone: 646-688-2884)

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. (MY-CPE LLC 1600 Highway 6 South, Suite 250, Sugar Land, TX 77478, Email: support@my-cpe.com, Phone: 646-688-2884)

About Instructor

Miles Hutchinson

Miles Hutchinson CGMA

President, Learn Continuously, LLC

  • 4.6
  • rating
  • rating
  • rating
  • rating
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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.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with live webinar courses?

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.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

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.

Reviews and Ratings

out of 5

Excellent (71%)

Very Good (21%)

Average (8%)

Poor

Terrible

SD

Sanel Dragovic, EA

5

This was my first webinar as an EA and I feel like I am leaving with much more knowledge about NRA’s than what i knew before. I am working with some NRA clients this season and was not aware of all the new updates and form/filing requirements. It is also very good to know about the electronic filing requirement of the 10 aggregate returns. I do think the presenter was moving quickly at certain points of the presentation but I am happy to know that you will send a recapped version. Thank you for helping me prepare better with my NRA clients and I look forward to many webinars in the future!

JM

June Milom, EA

5

I loved the class. The instructor is very knowledge of the subject matter and can deliver the materials in a well-spoken manner that is very comprehensible. I would like to see additional classes detailing how to properly fill out the various W-8 & 8233 forms under the appropriate scenarios.

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The Form 1042-S & W-8 Update

Inclusions

  • Multiple Credits

    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    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 - fastest in the industry.

  • Credit Tracker

    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault

    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

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    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

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    Mobile App Access

    The MYCPE ONE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

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    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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