Target Audience: CPAs, EAs, RTRPs
Field of Study: Taxation (NASBA); Federal Tax (IRS)
Seminar Level: Beginner
IMPORTANT INFORMATION REGARDING CPE CREDIT: THE IRS RETURN PREPARER OFFICE ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT FOR ENROLLED AGENTS (EA). IF YOU ARE NOT AN ENROLLED AGENT, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.
IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN ORLANDO, FLORIDA, ON July 28, 2010, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Large Business and International operating division delivered this seminar at the IRS Nationwide Tax Forum in Orlando, Florida, in July 2010.
Gillian bought a ticket to see "The Celtic Blast," the newest rock sensation from Ireland, when they appeared in concert at her small college in Iowa. Is Gillian a withholding agent? Each year, over 100,000 non-resident alien (NRA) athletes and entertainers perform independent personal services at thousands of venues throughout the USA. Who is responsible for withholding and reporting on the income they earn? In this session, you'll discover who is required to withhold, deposit, and report on the income earned by non-resident alien athletes and entertainers. Learn more about withholding requirements, withholding certificates, tax treaty benefit limitations and the alternative to potential over withholding. Take your ticket, grab a seat, and be prepared to be enlightened.
By the end of this presentation you will:
- understand the special withholding rules that apply to foreign athletes and entertainers.
- be able to determine if a foreign athlete or entertainer is a non-resident alien.
- know what a Withholding Agent is and their duties.
- understand the Sportsmen and Artist Provision of the tax treaty.
- understand the Central Withholding Agreement and the related responsibilities as they pertain to athletes and entertainers.
No prerequisites or advanced preparation are required for this seminar.