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Form W-8BEN: Taxation Rules for Non-residents

In the United States everyone must pay taxes. This rule refers to both Americans and foreigners who conduct business within the country. However, different types of businesses require different tax rates.

The series of w-8 form templates is specially designed for the purpose of reporting taxes. Today’s blog post is devoted to Form W-8BEN that is known as the Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals). It might be a bit complicated to fill out this document, but we are here to help you.

There is a set of incomes that are subject to tax withholding. They are interests, rents, royalties, premiums, dividends, annuities or any other income that was earned through services, compensations or other profits received on United States territory.

The income types that are not subject to tax withholding include: bank deposits interest, sales of securities and stocks, short-term OID (Original Issued Discounts), and incomes earned from foreign sources. However, non-residents still must file a w8ben to request the exemption.

The certificate of foreign status for federal tax withholding includes only 1 page. You have a choice either to complete it online or print the document and do it manually. We recommend to put the old-school printable blank form aside and try electronic completion. It will save your time and allow you to edit every line in the form if you fill it incorrectly. You can use fillable PDF or Word samples that you can find and download on our site.

Take your time and check the instructions. In the w8ben 2017 form you must indicate the following information:

  • Name of individual who is the beneficial owner;
  • Country of citizenship;
  • Date of birth;
  • Permanent residence address;
  • Mailing address;
  • Social security number;

If you still have some questions regarding Form W-8BEN, use this phone number 407-344-1012 to find out more information.

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Line-by-line Guide to Filling out Form W-8BEN

Form W-8BEN is the Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals). It must be filed by every non-resident who earns money on the territory of the United States. It applies only to individuals; for entities you must use the irs w-8ben-e form. You may check the irs w-8ben instructions, but the purpose of this blog is to provide a line-by-line guide for you to fill out the online form properly.

The certificate of foreign status for federal tax withholding consists of three parts and ten prompts. The first part is devoted to the identification of the beneficial owner. There are eight lines. Indicate the name of the individual who is the beneficial owner in the first line. This name must coincide with the name in a passport or any other official document. Do not use abbreviations or acronyms. In the second line, provide the permanent residence address with country of origin and without PO box number. If your mailing address is the same as in the second line, skip it. If not, write it down in the fourth line. In lines 5 and 6 you must indicate your U.S. and foreign taxpayer identification numbers (SSN or ITIN). The seventh line is devoted to the reference number(s). This may be an account number or other reference sources. And the last line in the first part of the blank must be filled with the date of birth.

The second part of this tax form is called the Claim of Tax Treaty Benefits. There are only two lines to complete. These lines must be completed only by those U.S. non-residents whose native countries concluded a tax treaty with the United States.

The third part of the irs w8ben form is the certification. It is the applicant’s declaration and confirmation. Once the individual has filled all lines in the blank, it is necessary to certify it by signature. Indicate also the date of completion.

After the document is completed, take your time to check it. It will be much easier and faster to do using PDFfiller editing tools. You may also use a printable version. You must print the form and fill it by hand which is not that convenient A PDF or Word fillable sample is available on our site.

Submit Form W-9 Online to Save Time and Stay Organized

W-9 Form: Request for Taxpayer Identification Number and Certification

Whether you’re a freelancer, contractor or part of the sharing economy, Form W-9 should be familiar to you. This form has to be completed before being legally contracted either by an employer or a company. Filling out a W-9 used to be extremely time consuming and frustrating since it required printing and faxing. However, you can now get around these hassles by filling out a W-9 online.

What is a W-9 Tax Form?

This form is used by employers to get a contractor’s tax ID number.
Even though a W-9 form isn’t sent to the IRS itself, it’s an extremely important document. First of all it’s used for business-contractor adjustment. This form may be used for requiring contractors’ information. This form is not sent to the IRS, yet it can be useful while filling out other Forms such as Form 1099 and Form 1099-MISC.

Additionally, Form W-9 is used to avoid backup withholding. If a taxpayer is certified on a W-9, they won’t be treated as subject to backup withholding. It is analogous to the withholding exemption certifications on Form W-4 for employers.

Here is what W-9 Form looks like:

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It might look a bit complex, but don’t worry: by the end of this post you’ll see that it is much easier than it seems at the first glance.

How do I Fill Out a W-9 Form?

All you need to do is to follow the instructions below and fill in all the required fields step-by-step. PDFfiller takes care of the hard part; you only need to fill in a few blanks.

Step 1. Open the W-9 Form page with your device.

You can use the same device you are using to read this post right now. You also can take advantage of PDFfiller’s mobile applications if you don’t want to open the link right now.

Once you’ve decided what device to use, follow these two steps: this W-9 Form link and further instructions.

Step 2. Open the W-9 Form itself.

Click on the link to open the form. There is a photo above showing where to click.

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The web-site will create a template of the W-9 Form for you.

Step 3. Fill in your data.

The form is already pre-formatted. You don’t have to create any fields or text-areas. All you need to do is to fill in the fields. Unlike the paper version, you can’t accidently skip any fields here. The software will remind you to complete the form every time you skip a blank. It will also check your spelling automatically if you would like it to. Just turn on the spellchecker.

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All the required data is more or less intuitive. Still, if you have any problems there are three additional pages that clear everything up.

Don’t forget to put the date at the bottom of the W-9 Form

(Luckily, a pop-up reminder would help you out in any case).

Step 4. Create a legally binding eSignature and sign the W-9 Form with it.

The final step is putting your signature on the document. Yes, you can sign it even without a pen. There are several ways to do this. It can be drawn with your finger/stylus on a touchscreen device, with a mouse, captured with a webcam, uploaded or even typed in. Chose whichever one you’d like.

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Here, for example, is what the “Type/text” looks like:

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The best thing about an eSignature is that it may be saved and reused.

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All done! You’ve just finished filling out the W-9 Form! Once again: no ink, no pens, no paper, – a piece of cake, right?

eFiling and its benefits for W-9 Form?

Now for the most interesting part: First of all you can save it as PDF or Word. On the other hand, it’s possible to print it out the old-fashioned way.

The best perk about E-Filing is that you can file the completed document straight from your computer or phone. The next time you will be asked for a W-9 Form you can send it via an e-mail.

No more post-offices, no more slow delivery services, no more long lines! Sending Form W-9 is now available in one click.

Now you’re all set to fill out a W-9 yourself.

Here’s your link : W-9 Form . Whether you are employing a contractor, an employer, employee or freelancer PDFfiller form library with over 25 million other forms and documents has just the form you need.

Form 3921

Form 3921: How to Report Transfer of Incentive Stock Options in 2016 Tax Season

IRS Form 3921: Exercise of an Incentive Stock Option Under Section 422(b)

One of the significant parts of annual taxes is selling, transfer or acquiring stock options. There are different forms for informing IRS about any of these transactions. In today’s blogpost we are going to prep ourselves for reporting a transfer of incentive stock option. This means that the transferor has to fill out the same table with the number of shares transferred, exercise price per share and fair market value per share on exercise date for four parties. He has to send a copy to the corporation whose stock is being transferred, one copy for employee who exercises the option, another copy to the IRS and keep the last copy for his own records. You can find all of them in the Form 3921.

Who has to file IRS Form 3921?

Form 3921 is the US Internal Revenue Service form, officially called the Exercise of an Incentive Stock Option Under Section 422(b). The form is designed to be used by any corporation that transfers to any person a share of stock pursuant to the transferee’s exercise of an incentive stock option as described in section 422(b) and is applicable to the calendar year during which the transfer was made.

What is the purpose of Form 3921?

The IRS 3921 form serves as an information statement furnishing employees with the details of incentive stock options that were exercised during the year.

Is Form 3921 accompanied by any other forms?

The submission of the completed Form 3921 to the employee does not necessitate attaching any accompanying forms or documents. In general there are several copies of the same return to send to the IRS, the employee exercising an option and the corporation whose stock is being transferred.

When is the Exercise of an Incentive Stock Option form due?

The employer should provide the exercising employees with the 3921 Form by January 31. This due date works for Copies B and C received by the corporation and the employee. The IRS in turn should receive its own copy (Copy A of this form) a month later, by February 28th, and if you file it electronically it’s not due until March 31, 2016.

How do I fill out the 3921 Form?

To be properly completed, the form must include the following details:

  • Information about the Transferor (name and address)
  • Transferor’s federal identification number
  • Information about the Employee (name, address, account number)
  • Dates of options granting and exercising
  • Exercise price per share
  • Number of transferred shares
  • Fair market value of a share
  • Data about the corporation whose stock is transferred (if other than the Transferor)

What should be done with all four copies of the 3921 Form?

There are detailed instructions about where to submit the four copies (A, B, C and D) on each corresponding page of the document. You must have the correct addresses of the employees and corporation’s business address for sending copies B and C.

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Form 1099-DIV: Answers to Top Seven Questions

Form 1099-DIV: Dividends and Distributions 

Did your corporation pay any dividends? Use Form 1099-DIV to report them! Today’s post covers Form 1099-DIV, Dividends and Distributions.

What is Form 1099 DIV?

Form 1099-DIV reports ordinary dividends, qualified dividends, total capital gains, foreign tax paid, non-taxable distributions, and foreign source income from each investment account held by a fund company.

Who files the Form 1099 DIV?

A corporation needs to file the Form 1099-DIV for every person:

  1. to whom it paid dividend and distributions on stock of $10 or more,
  2. to whom it paid foreign tax on dividend and other distributions on the stock,
  3. for whom it withheld federal income tax on the dividend under the withholding rules, or
  4. to whom it has made the payment of $600 or more as part of a liquidation.

Are there any exceptions?

A corporation is not required to report on the Form 1099-DIV in the following cases:

  1. Taxable dividends are distributed from employee stock ownership plans and life insurance contracts.
  2. Substitute payments are made in lieu of dividends.
  3. Payments are made to payees which include tax-exempt organizations.

Is Form 1099 DIV accompanied by any other forms?

An IRS Form 1096, Annual Summary and Transmittal of U.S. Information Returns must be filed along with the Form.

When is Form 1099 DIV due?

The corporation must furnish Copy B of the Form to the recipient by January 31, 2017 and file Copy A with the IRS by February 28, 2017. If the company files electronically, the due date is March 31, 2017.

How do I fill out Form 1099 DIV?

In the form, you need to provide the payer’s information, the business’s tax identification number, the recipient’s identification number and other basic information. You can find specific instructions on how to fill the Form 1099-DIV here. Fill the numbered boxes after reading the instructions carefully. If you have more questions about Form 1099-DIV, you can check out the following video.

Where do I send the Form 1099-DIV?

The payer fills 5 copies of the form:

  • Copy A is for IRS Center;
  • Copy 1 is for the State Tax Department;
  • Copy B is for Recipient;
  • Copy 2 is to be filed with recipient’s state income tax return, when required; and
  • Copy C is for the payer.