Pioneering a path through paperwork and tax codes

Information about the 1042-S Form

Form 1042-S – Foreign Person’s U.S. Source Income Subject to Withholding This form is used to report the amount of income received on your behalf by your booking agent or management company. The form is prepared by the management company or withholding agent, submitted to the IRS and copied to the rental property homeowner. You… Continue Reading

What is a 1099 Form?

Form 1099 is issued by U.S. corporations, small businesses and other employers to record the income earned by employees and independent contractors. There are several versions of the 1099 which may be used to report different types of income such as interest, dividends, real estate sale proceeds and debt cancellation.  The form reports income to… Continue Reading

What is a W-9 Form?

Foreign investors are sometimes asked to complete and return Form W-9 to their managing agent, booking agent, U.S. bank etc.  The Form W-9 is used to request an individual’s taxpayer identification number.  For federal tax purposes you are considered a U.S. person if you are a U.S. citizen or U.S. resident alien, a partnership, corporation,… Continue Reading

What is a W-8BEN Form?

Form W-8BEN – Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding Generally, a foreign person is subject to U.S. tax on its U.S. source income. Most types of U.S. source income received by a foreign person are subject to U.S. tax of 30%. A reduced rate, including exemption, may apply if… Continue Reading

Instructions for Completing Form W-8BEN

Part I Identification of Beneficial Owner 1. Your name 2. Your country of citizenship 3. Permanent residence – enter your home country mailing address 4. Mailing address – enter your mailing address if it is different from your permanent residence address 5. Enter your SSN (social security number) or ITIN (Individual Taxpayer Identification Number) 6.… Continue Reading

W-8ECI Form

Form W-8ECI – Certificate of Foreign Person’s Claim for Exemption From Withholding on Income Effectively Connected with the Conduct Of a Trade or Business in the United States. Generally, a foreign person is subject to U.S. tax on its U.S. source income. Most types of U.S. source income received by a foreign person are subject… Continue Reading

Instructions For Completing Form W-8ECI

Part I Identification of Beneficial Owner Enter your name If you are an INDIVIDUAL insert – N/A. If you are a FOREIGN CORPORATION insert your country of incorporation Enter the name of the disregarded entity receiving the payment – if applicable Check the box that applies Permanent residence – enter your home country mailing address –… Continue Reading

Telephone +1 (863) 968-1010Facsimile +1 (863) 968-1020

Need foreign & domestic mortgage advice? Visit HBImortgages.com