Course Description

In an increasingly online world where geography is less important, some companies are looking outside of the United States for talent. However, foreign contractors have many unique tax attributes - and their filing requirements can differ depending on if they are classified as a resident or nonresident alien. In this course, we will discuss basic tax requirements related to foreign contractors. Using discussion and examples, we will identify situations to watch out for and when certain forms may be required. We will also discuss what to do in the case of worker misclassification.

Learning Objectives

  • Recognize the difference between Resident Aliens and Non-Resident Aliens.

  • State situations that would require the filing of a W-8BEN or Form 1042.

  • Recall when back-up withholding may be required for certain taxpayers.

  • Identify qualifications for the IRS Voluntary Classification Settlement Program (VCSP).

Additional Required Materials

  • Level: Overview

  • Field of Study: Taxes (NASBA); Tax Planning (CFP); Federal Taxation (IRS)

  • Who Should Attend: Tax practitioners, small business owners, and other accountants looking to serve their companies or clients in the areas of payroll services or operations.

  • Required Knowledge: None

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.