Tax & Accounting Blog

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Why Nature of Income Paid to Foreign Vendors Matters Part 7 – Tax Treaty Exemptions from Withholding

A common withholding exemption is a claim under an applicable provision of an income tax treaty with the country of tax residence of the income’s beneficial owner. Such a claim must be made by the vendor on a valid Form W- 8BEN, or a Form 8233 in the case of treaty claims by individuals on … Read More

IRS Releases Draft Form for Medicare Surtax on Net Investment Income

IRS Releases Draft Form for Medicare Surtax on Net Investment Income

On August 6, 2013, the IRS released a draft of 2013 Form 8960, Net Investment Income Tax – Individuals, Estates, and Trusts.  Taxpayers use the form to compute the 3.8% surtax on net investment income, added by the 2010 Health Care Act.  The IRS has not yet released instructions to the form. The IRS … Read More