Course Description

IRS Forms W-8 and W-9 requires organizations like yours to collect very specific information about your payees. Besides regulating withholding, payers must make sure that the forms are current, complete and accurate. How can you ensure a proper form that will not subject your company to penalties, interest or tax?

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. takes a look some of the more common problems experienced by CPA’s, accounts payable, and tax departments related documenting and validating payee information using the IRS Forms W-8 and W-9. He not only identifies the issues, but offers solutions and best-practices for addressing them.

Learning Objectives:

• Learn what's new for Form W-9/W-8 due diligence rules
• Discover the latest strategies for validating IRS Forms W-9, W-8, and 8233
• Learn how to develop best practices strategies for backup withholding (including rules and determining your deposit schedule)
• Identify Form W-9 do’s and don’ts: including tips on validating Form W-9's when multiple names are provided, handling undocumented payees, service payments that require the reporting of a related good, and validating exempt organization payees
• Discover proven techniques for handling payee treaty benefit requests on Forms W-8 and the steps to validate foreign TIN's
• Learn when to use each form W-8: Scenarios to consider
• Receive best practices for validating payees from U.S. possessions
• Discover key data points to capture from Forms W-8/W-9 and ensure compliance with IRS reasonable cause regulations
• Spot Form W-8 & W-9 red flags before it's too late
• Learn how to document & validate sole proprietors, single member LLC’s, partnerships, LLC’s owned by other entities, S-Corps, and more Create processes for dealing with recent IRS changes to the Form W-9

Learning Objectives

• Please see the 'Course Description' for the learning objectives.

Prerequisites

• None