What tax forms do prop firms send to IRS for non-US customers?

Discussion in 'Prop Firms' started by fastscalper, Nov 23, 2005.

  1. What tax forms do prop firms send to IRS for non-US customers (those with W-8) at the end of each year?
     
  2. How a foreign customer can obtain a Tax ID I have been told that it is more complicated today to obtain it.

    Thanks
     
  3. lescor

    lescor

    The only way to get a tax ID # is to file a return
     
  4. Thanks lescor,

    But is it difficult to obtain ?
     
  5. ...

    ...

    Nope, one applies for a tax ID #.

    See the link in the previous post.
     
  6. What tax forms do prop firms send to IRS for non-US customers (those with W-8) at the end of each year?
     
  7. lescor

    lescor

    http://www.irs.gov/individuals/article/0,,id=96287,00.html#revised

    What are the revised application standards for ITINs?
    Effective immediately, each ITIN applicant must now:

    * Apply using the revised Form W-7, Application for IRS Individual Taxpayer Identification Number ; and
    * Attach a federal income tax return to the Form W-7.
    Applicants who meet an exception to the requirement to file a tax return (see the instructions for Form W-7)must provide documentation to support the exception.

    The exceptions are quite restrictive, so for all intents and purposes, filing a tax return is the only way to get it.


     
  8. alanm

    alanm

    Since you say "prop firms", do you really mean "customer"? That is, are you a member/partner in an LLC, getting a partnership income K1 form at the end of the year, instead of a 1099?
     
  9. Sorry, but I did not understand. What do you mean by filing a tax return?

    Thanks for your answer
     
    #10     Nov 25, 2005