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Suffolk New York Form W-8BEN: What You Should Know
There is no penalty for filing Form W8BEN after June 1st. Direct Deposit Worksheet: Form W-8BEN — IRS.gov Direct Deposit Worksheet (IRS Form 4684) — IRS.gov Filing and Filing Errors Information for the Form W8BEN. Additional Information on the W-8BEN and the W-8 EN — Internal Revenue Service website Provides information on filing and filing errors regarding Forms W8BEN (Rev. October 2021) and W8ECI (Rev. April 2018) — IRS.gov For Individuals: 1. Do not write a check with a foreign bank account number as a transaction. To have a refund check sent to the address of your choosing, use the “Pay for by Check or Electronic Funds Transfer” option on the federal website. Alternatively, you may file Form 8300 as explained in this IRM blog. 2. If the check contains a foreign bank account number, the IRS cannot send the check because the address of the account holder is not correctly reported on the Form 8300. There is a provision on line 21 of Form 8300 that allows the IRS to determine if the correct address is reported on this form. Therefore, you may request a refund check (without a foreign bank account number issued to you as an entity) by requesting a Form 1099-A Form 1099-R (which may have a foreign banking subsidiary or representative), stating that the account holder is not in the United States and a reportable transaction with an eligible transferor. Note that you cannot use this same form to request a refund after your tax year is closed, and you would not have to file Form 8300. However, this form can be used to order a 150 check from an eligible financial institution and claim a 150 foreign tax credit. This will result in no tax due (other than a refund if you meet the requirements) and a final amount of 150 will be applied on the back of the check to reduce the amount of your tax liability with respect to the payment. See the instructions for Form 1099-A and Form 1099-R, as well as the instructions for line 29 of Form 8300, “Transfers of Business Income or Business Credits”. 3. In general, you cannot claim an overseas tax credit for income taxed by a foreign country. See section 5 of Pub. 946 for more information. 4.
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