W-8 & 1042-S Non-resident Alien Regulatory Reporting Update -2025 (Completed)

NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

Join us to obtain the best tools available to identify your Nonresident Alien payees (NRA’s) and bring your company into compliance with the 30% backup withholding requirements on dollar one. In just two hours, you can begin to develop a solid plan to move your company toward near absolute regulatory compliance, efficiency improvements, standardized processes, & adequate documentation to ensure your NRA’s are properly handled according to IRS and tax treaty regulations. You will learn how to obtain the treaties and confirm exemption claims made by your NRA’s with the IRS.

Who Should Attend
All types of entities including For Profit, Not for Profit, Government (Federal and State) – everyone who hires an independent contractor has reporting obligations

Topics Covered

• How to determine whether Nonresident Aliens are working for you
• Learn how to determine which W-8 to provide to the NRA
• Discover how a NRA individual must support their claim of exemption from withholding
• Learn the rules for evaluating forms provided by your NRA to determine reliability and their impact on your withholding requirements
• Learn the best way to handle questions from NRAs who do not understand your requests or the forms
• Learn how to access tax treaties and learn how to use it to confirm a claim of exemption from or reduced rate of backup withholding
• Discover how to make your backup withholding deposits timely and keep the IRS from confusing them with your payroll tax withholding deposits
• Study the 1042-S and related forms for filing and reporting backup withholding on the Annual Withholding Tax Return
• Avoid the penalties for under-withholding and failure to report your NRA’s
• Discover the best practices for managing NRA information reporting and backup withholding

Learning Objectives

• Recognize how to ensure compliance with IRS information reporting and backup withholding requirements for NRAs
• Recognize how to manage nonresident alien payee' tax issues efficiently
• Recognize how to develop an effective plan to improve your company's regulatory compliance
• Identify how to determine whether Nonresident Aliens are working for you
• Identify the withholding rate percent beginning with the first payment with respect to Form 1042-S reporting

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of W-8 & 1042-S

Advance Preparation
None