tax withholding – Foreign Tax Status Information Group (FTSIG)

Foreign Person Reporting and Withholding Summary

By ftsig-admin | August 9, 2024

TABLE OF CONTENTS: 1. INTRODUCTION This article addresses “foreign person” reporting and withholding, which means anyone who does not CONSENT to the privileged civil status of “U.S. person”, INCLUDING American Nationals wishing to remain foreign. 2. TYPES OF FOREIGN PERSONS # Name Nationality Described but not defined in IdentifyingNumber Type of“Foreign person”? Symbol 1 Nonresident…

Lawfully Avoiding Foreign Person Withholding

By ftsig-admin | July 28, 2024 |

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…