Handling Nonresident Alien Information Reporting Using Forms 1042 and W-8

Gina J. Lowdermilk
Jun 16, 2020 - 01:00 PM EDT
Starting at

$249


Buy Now

Do you have a plan to deal with IRS demands for backup withholding if you failed to deduct from payments to Nonresident Aliens' (NRAs)? The IRS is working hard to reduce the delinquent tax burden. They know companies are becoming relatively compliant with 1099 reporting, but they also understand that companies and their advisors are less sure when it comes to identifying and performing backup withholding on NRAs. Collecting the tax due from NRAs working in the U.S. is an IRS Tier 1 audit issue. This tax burden is minimized when companies making payments to NRAs for both dependent and independent personal services properly withhold on these payments.

This course is essential for all professionals in the industry, NGO's, schools, public practice and government who are responsible for filing or overseeing information reporting compliance and related issues.

Why Should You Attend:

Join this webinar to obtain the knowledge necessary to identify your NRA payees and bring your company into compliance with the 30% backup withholding requirements. After this program, you can develop an effective plan to move your company, institution or clients toward complete regulatory compliance, efficiency improvements, standardized processes, and adequate documentation, to ensure NRAs are properly handled according to IRS and tax treaty regulations. You will learn how to use the treaties and best practices to confirm exemption claims made by your NRAs with the IRS.

Areas Covered in the Seminar:

In just ninety minutes you will gain the following insights:

  • Ensure compliance with IRS information reporting and backup withholding requirements for NRAs
  • Understand how to manage nonresident alien payee' tax issues efficiently
  • Develop an effective plan to improve your company's regulatory compliance
  • How to determine whether Nonresident Aliens are working for you
  • The five variations of Forms W-8, including the most recent addition -  W-8BEN-E
  • How to determine which W-8 to provide to the NRA
  • How NRA individuals must support their claim of exemption from withholding
  • The best way to handle questions from NRAs who do not understand your requests or the forms
  • Tax treaties and how to use them to confirm a claim of exemption from or reduced rate of backup withholding
  • How to make your backup withholding deposits timely and keep the IRS from confusing them with your payroll tax and other withholding deposits
  • Form 1042-S and related forms for filing and reporting backup withholding on the Annual Withholding Tax Return

Who Will Benefit:

  • Bank Managers
  • Compliance Officers
  • Information Reporting Officers
  • Tax Managers
  • CFOs
  • Controllers
  • Accounting Managers
  • Auditors
  • IT Managers
  • Compliance Managers
  • Risk Managers 

Topic Background:

For years the IRS has struggled with the foreign independent contractor and tax collection.  In assessing opportunities to close the tax gap (taxes due but not reported or paid), one of the greatest opportunities comes from expanding the information reporting on taxpayers by payors – the 1042-S.  This time-consuming reporting obligation can be streamlined in a number of ways.  Join us to learn more.

Webinar Events
Attend Live Webinar
Jun 16, 2020 - 01:00 PM EDT

Duration: 75 Minutes

Single Attendee


Group of 3 to 5 +1 Thumb Drive or 5 online Recorded version


Group of 6 to 10 +1 Thumb Drive or 10 online Recorded version


Training CD-DVD

Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment


Recorded video

Recorded video session



Speaker: Gina J. Lowdermilk, BSA/Compliance Auditor and Consultant

Dr. Gina J. Lowdermilk,PhD (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.

Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.


Follow us

24x7 Direct Number
(315) 632-0735,
(315) 750-4379
Toll Free
1-866-978-0800

Fax

1-888-883-7697