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Tax Issues Impacting U.S. Businesses Hiring Workers and Independent Contractors Who Work Overseas (BUHI)

Tuesday, November 8, 2016
10:00 AM - 12:00 PM (Eastern)

Karen Davis, EA, MBA, Ph.D.

Aaron Kriss

  • Format Webinar
  • Credits 2
  • Level Intermediate
  • Field of Study Taxes (2)

Overview

More and more businesses are hiring independent contractors who reside outside the U.S. The key tax-related issues associated with hiring an independent contractor from outside the U.S. is to determine if the worker meets the requirements of independent contractor status. Equally as important is to verify the worker’s country of residence to make sure he or she is not a U.S. resident as tax withholding and year-end reporting requirements are tied to the residence status of the taxpayer versus that of the independent contractor.

Major Topics:

  • Considerations regarding hiring overseas independent contractors
  • Independent contractor status for foreign workers
  • Foreign earned income exclusion
  • Form 673, Statement for Claiming Exemption from Withholding on Foreign Earned Income Eligible for the Exclusion(s) Provided by Section 911
  • Definition of an American employer for employment tax purposes
  • U.S. income and FICA withholding tax for services performed within the U.S. and without the U.S.
  • U.S. income tax withholding for non-resident aliens
  • Forms W-8BEN and 1099
  • Special FICA tax rules under totalization agreements

Learning Objectives

  • Prepare tax practitioners to advise their clients that use foreign contractors regarding the tax issues associated with payments to such individuals
  • Understand U.S. international employment tax rules

Who should take this course:

Tax advisors with clients using foreign independent contractors and employees

None

None

Yes

No

No

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