Make sure you are compliant with the IRS international withholding standards.
In an increasingly global society, many U.S. payors are unknowingly subject to withholding tax obligations for payments to foreign individuals and entities. Understanding the rules for withholding on these payments can reduce your liability to the IRS. Review this information and learn to identify when income is subject withholding, evaluate the proper procedures to withhold and comply with the other proper documentation. Review today to get the information you need to avoid potential IRS penalties.
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Why Lorman?
Over 33 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
Overview of U.S. Source FDAP Withholding
- FDAP Income
- Basic Withholding Requirements
- Introduction to Relevant Withholding Forms
Status of Income Recipient
- Resident vs. Nonresident
- Individual vs. Entity
- Beneficial Owner
- The Role of Tax Treaties
- Substantial Presence Test
- Effectively Connected Income
Partnership Withholding and Reporting
- Partnership Gross ECI
- Distributive Share of ECI
- FDAP Income
- Actual Distributions
- Introduction to Relevant Withholding Forms
Foreign Investment in Real Property Tax Act - FIRPTA
- U.S. Real Property Interest/U.S. Real Property Holding Companies
- Withholding and Reporting Requirements
- Introduction to Relevant Withholding Forms
Penalties
- Risks Related to Failure to File
- Late Filing Penalties
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Why Lorman?
Over 33 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 Course
This course was last revised on November 7, 2019.
Call 1-866-352-9540 for further credit information.
Enrolled Agents 2.0
- This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.5
- CA MCLE 1.5
- CT CLE 1.5
- HI CLE 1.5
- IL CLE 1.5
- ME CLE 1.5
- MT CLE 1.75
- NJ CLE 2.0
- NV CLE 1.5
- VT CLE 1.5
- WA CLE 1.5
- WV MCLE 2.0
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 33 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
Mike Burgess, J.D.
Crowe LLP
- Serves as a senior manager with Crowe LLP’s international tax group
- Has more than 20 years of experience in international tax including both compliance and planning for public and private companies
- Has a broad range of industry experience, including manufacturing and distribution, retail and technology, among others
- Throughout his career he has acquired extensive experience in international compliance issues including completion and review of all U.S. international tax forms
- Since 2010 he has focused on providing international tax services to publicly and privately held multinational companies in the middle market on a wide range of international tax issues, including, in addition to the above, structure planning, mergers and acquisition, cross-border transactions and Subpart F analysis, GILTI, FDII, BEAT, and foreign tax credits
- Prior to joining Crowe, he spent more than 10 years in Big 4 public accounting firms where he gained an extensive background in implementing global holding company structures designed to improve a company’s tax positions and efficiently manage cash through intercompany financing and cash planning
- Has specific experience in development and implementation of international structuring and restructuring projects
- J.D. degree, Lewis & Clark College
Kinsey Staver
Crowe LLP
- Currently a senior staff person in the Global Tax Services Group at Crowe LLP and has been with the group three years since graduation
- Primary focus within the group has been assistance with international reporting and compliance requirements for the group’s U.S. multinational clients
- Has been involved in assisting with the preparation and completion of Country by Country reporting for various clients as well as helping clients prepare for the various aspects of tax reform and its impacts on international operations
- Recently completed a four month loan-staffing engagement at Whirlpool Corporation in Benton Harbor, Michigan; during this time, she worked on-site with Whirlpool’s internal tax team to assist with their international compliance
- B.A. degree, Southern Illinois University – Carbondale; M.A. degree, Western Michigan University
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Why Lorman?
Over 33 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.
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