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Irs w-8ben-e 2024 Form: What You Should Know

For the latest information on IRS Form W-8BEN for United States Tax Withholding and Reporting Entities visit the IRS website.   Filing a Return to File or Pay a Federal Tax Refund If an entity is subject to foreign reporting requirements, the entity does not get a Form W-8BEN (for entities subject to such reporting requirements), and the entity does not get a Certificate of Status of Beneficial Owner, then the entity must file a return to report its U.S. source income to the IRS. Generally, entities that file a separate return for each tax year are subject to a special filing requirement, which is discussed below. The requirements for filing a return are somewhat different for all types of returns, but are summarized below. The IRS will not process a return submitted that does not meet these requirements, or will assess interest and penalties on any return that does not meet these requirements. When the United States is the only country for which an entity or related person has income, a return may be filed by the individual. In other words, an individual does not file a return with regard to the United States source income from a foreign source. However, an entity should fill out and attach Form 8938 to the individual who has United States source income because the United States accounts for the majority of income from this source. This does not apply to corporations. Corporations must file a return for each country for which an entity has income. If the United States is the only country for which an entity has source income, the entity must provide the appropriate Form 8938 on the return for each year, and the taxpayer must file the tax return for all the countries for which it has income from the United States for that year. If an entity has income from multiple countries, the entity must file separate Form 8938s for each country, and attach them to the return. If an entity does not file either or both of these, that entity will pay interest and penalties for the failed return, plus interest at a rate of 1.5% per month on the unpaid balance of the return. A return filed by a foreign entity with regard to its income from international sources is nonprescriptive and may be filed when the foreign entity is in a foreign country, or abroad, under a foreign tax treaty.

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