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Form W-8BEN Illinois Cook: What You Should Know

Form W-8BEN, Certificate of Status with U.S. Tax Withholding, is a new tool that allows Canadian contractors to claim preferential rates of Canadian taxes on U.S. source income on Form W-8. Form W-8BEN — Certificate of Status for Canadian and Foreign Individuals in the United States — Internal Form W-8 BEN and the requirements for its use may be found at , with the most recent version of Form W-8BEN dated November 15, 2010, and available on its website. Also, available is the IRS Notice regarding the use of Form W-8BEN for Canadian and Foreign Taxpayers. How to Obtain a Certificate of Foreign Status | The Treasury Regulations An individual may file Form W-8BEN (Certificate of Foreign Status) for purposes of claiming a U.S. tax reduction based on the foreign country of origin of the beneficial owner of an amount on Form 1040. The Certificate of Foreign Status is used to claim a 10% tax reduction for the amount subject to foreign withholding tax. What is “Qualified Passive Activity Income” (APIA) Status? — IRS VIA is an alternative means by which a taxpayer or former taxpayer can claim a foreign tax credit for U.S. source income tax paid on income received from qualified passive activity transactions. VIA may be claimed only in certain specified situations for which the taxpayer or former taxpayer is a U.S. resident and is not a nonresident alien individual or corporation. VIA should include the name and address of the taxpayer or former taxpayer and the location of their business at the end of the statement (line 21), and should be signed by the taxpayer. A number of foreign countries have signed an agreement with the United States to recognize certain income and gain realized or accrued from U.S. source income (or, in some cases, from qualified passive activity income), for purposes of withholding (and, through special rule, repatriation) income tax. For these countries, a Certificate of VIA for certain U.S. source income received (or accrued) in a particular tax year could be filed. In addition, income tax could be claimed under the treaty in certain cases. Generally, income tax treaties are effective January 1 of the year following the calendar year in which a treaty is entered.

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