Withholding and Reporting

TABLE OF CONTENTS: 1. Introduction Privileged “U.S. persons” are not subject to withholding or reporting under 26 U.S.C. §1441, but “foreignP personsPUB” can be. This is a trick to get you to “elect” the DOMESTIC “U.S. person” status under 26 U.S.C. §7701(a)(30) and to scare you away from being “foreign” but not a “person” status…