IRS Form W-9 and W-8 Series: Payee Identification and Tax Determination

Training Provided by Lorman Education Services nForm W-9 is used to obtain a valid TIN number from a payee. This teleconference will cover the requirements and compliance of form W-9. Payers of various types need to file information returns with the IRS regarding payments to individuals and other types of business entities. The most common are the 1099 series used to report payments to contractors, dividends, interest, real estate transactions, etc. Form W-9 requires payees or recipients to complete the form and provide their taxpayer information. W-9 is used for U.S. citizens and residents. In the event the payee recipient is a foreign person or nonresident alien earning U.S. source income, the payee must complete form W8BEN. We will also cover the requirements of the W-8 series and the 1042.

IRS Form W-9 and W-8 Series: Payee Identification and Tax Determination Agenda

1. Form W-9
1. What Is Form W-9?
2. What Is the Main Purpose of the Form?
3. Who Receives the Form?
4. Is It Filed With the IRS?
5. Completing Form W-9
6. TIN Matching With the IRS
7. Definition of a U.S. Citizen, Resident Alien
8. Penalties for Nonconformance
9. Section 6049 and Tax Exempt Interest
2. Form W-8 Series
1. What Is Form W8-BEN?
2. What Is the Purpose of the Form?
3. Who Receives the Form?
4. Is It Filed With the IRS?
5. Similarities With W-9
6. Definition of a Foreign Person or Nonresident Alien
7. What Is U.S. Source Income?
8. Penalties and Nonconformance
9. Backup Withholding
10. Information Used to Generate the 1042
11. 1042 vs. 1099
3. Summary: Contractor vs. Employee W-4 vs. W-9

About The Training Provider: Lorman Education Services

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