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Tax Treatment of International Payments

Don't get trapped in the maze of cross-border tax reporting and withholding regulations. Learn the ins and outs of international payment rules, regulations, and current issues.International tax law, once the purview of large international corporations, now affects all organizations--both large and small. In today's global economy, most organizations are involved with international transactions. Payments to foreign supplies, foreign service providers, foreign consultants, foreign internet services, foreign lenders and foreign investors are all subject to complex rules related to withholding on and reporting of such payments. These rules apply both to for-profit and not-for-profit organizations. In this topic, we will explore the world of withholding and reporting on international payments. This includes Chapter 3 source withholding which is designed to collect U.S. taxes on income earned in the United States by foreign entities and Chapter 4 FATCA withholding which is designed to encourage compliance with foreign transaction and account reporting. We will cover the basic withholding and reporting requirements of each Chapter as well as exploring practical issues regarding compliance. The course is designed for financial, legal and business professionals that are responsible for their organizations' compliance with withholding and reporting and those professionals that advise them. Upon completions of this material, you should have a better understanding of the common types of transactions that require withholding or reporting and the types of things you need to lookout for to avoid costly penalties.


Runtime: 92 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction to Withholding on International Payments

  • Objective of U.S. Withholding Rules
  • Types of Withholding on International Payments: Understanding the Differences Between Chapter 3 (Source Withholding) and Chapter 4 (FATCA) Rules

Chapter 3: Source Withholding

  • Overview of U.S. Taxation of Non-U.S. Persons
  • Income Subject to Withholding
  • Persons Required to Withhold
  • The Impact of Income Tax Treaties
  • Understanding Withholding Certificates (the W-8 Series)
  • Withholding on a Foreign Partner's Share of Partnership Income
  • Withholding on Real Property Transactions
  • Compliance Issues

Chapter 4: FATCA

  • Overview of the Purpose and Scope of FATCA
  • Who Is a Withholding Agent?
  • What Is a Withholdable Payment?
  • Understanding FATCA Status and Form W-8BEN-E
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 8, 2017.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5 including Other 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Daniel Cassidy, CPA

Daniel Cassidy, CPA

Clark Nuber PS

  • Tax principal at Clark Nuber PS in Bellevue, Washington
  • Practice focuses on taxation of corporate and international business transactions for domestic and foreign clients
  • Has written several publications and is a regular speaker on topics related to international and corporate taxation
  • B.S. and M.A. degrees, State University of New York at Buffalo
  • Can be contacted at 425-454-4919 or [email protected]
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Product ID: 400090
Published 2017
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