CAS Training: Working with Foreign Contractors - Massachusetts Society of CPAs

Overview

You could pay $0 for this course!
This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is 1147708. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

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.

Highlights

- Differences between Resident Alien and Nonresident Alien taxpayers
- Qualifications to be a Resident Alien
- Overview of Form 1042
- Situations requiring the filing of a W-8BEN
- Backup withholding requirements related to foreign taxpayers
- Consequences of worker misclassification related to foreign workers
- Qualifications & requirements for penalty relief under the IRS Voluntary Classification Settlement Program (VCSP).

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)

This event is part of the following bundles:

Client Advisory Services Bundle

Multiple Events Between Tuesday, October 1 - Wednesday, October 9

Eligible for 7.00 Credits

Member Price: $219

You could pay $0 for this course!This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is 1147717. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

Fees

Credits

Level

Fields of Study

Leader(s):

David Peters, American Institute of CPAs

Leader Bios

David Peters, American Institute of CPAs

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA, as well as a Financial Advisor for Carroll Financial Associates in Charlotte, NC. He has over 14 years of experience in financial services, including 3 years in the hedge fund industry and 6 years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com, a position he held for over 3 years. He is an Adjunct Professor in Accounting & Finance at Winthrop University in Rock Hill, SC, and a National Instructor for the AICPA. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the US. He holds four masters’ degrees and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. David was also a co-author of the 2018 Virginia CPA Ethics course—a required course for all CPAs licensed in the Commonwealth of Virginia. Registered Representative of and securities offered through Cetera Advisor Networks, LLC, Member SIPC/FINRA. Advisory services offered through Carroll Financial Associates, Inc., a Registered Investment Advisor. Carroll Financial and Cetera Advisor Networks, LLC are not affiliated

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