Form 8833: Your Key to Unlocking Tax Treaty Benefits
What is Form 8833? Form 8833 is a document that taxpayers must file with the Internal Revenue Service (IRS) if they are claiming a treaty-based return position. A treaty-based return position is when a taxpayer is claiming a tax treaty benefit that overrides the Internal Revenue Code (IRC). Form 8833 is used to disclose the taxpayer’s position and provide the necessary information […]
My Hong Kong bank is asking me for a W-8 or a W-9 for my personal account? Which one should I use?
The Foreign Account Tax Compliance Act (“FATCA”) is a 2010 US law requiring foreign financial institutions (FFIs) to review data for their account holders and identify all their US account holders or be subject to withholding on certain payments. FORM W-8 These foreign financial institutions would request W-8 series forms to identify and document their […]
ITIN renewal questions
ITIN renewal questions? The IRS issues ITINs (individual taxpayer ID numbers) to foreign nationals and others who have federal tax reporting or filing requirements and do not qualify for SSNs (social security numbers). A non-resident alien individual not eligible for a SSN who is required to file a U.S. tax return only to claim a refund of […]
What is an ITIN and do I need to get one?
What is an ITIN? ITIN (Individual Taxpayer Identification Number) is a tax processing number issued by the Internal Revenue Service. It is specifically for nonresident aliens who fulfil filing requirements but are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA). An ITIN does not offer work authorization or […]