Other Tax Services
ITINs are used by the IRS for processing your tax returns and payments. The number does not qualify you to work in the U.S. or provide eligibility for Social Security benefits; it is only for federal tax reporting purposes.
W-8 forms are used to certify foreign status for U.S. tax withholding and reporting purposes. By submitting this form, you are certifying to the payor of U.S. source income your foreign status, which will determine how much tax they must withhold, if any.
Foreign Direct Investment in the U.S. Reporting
If you are a nonresident foreign individual or entity, and have or are planning on investing in the U.S., there are some non-tax forms you need to file. Most foreign investors don’t realize that the U.S. Department of Commerce requires foreign direct investment in the U.S. to be reported. Failure to report will result in penalties!
U.S. Direct Investment Abroad Reporting
The report is mandatory and civil penalties for non-compliance can range between $2,500 and $25,000. There are also criminal sanctions for willfully failing to file the BE-10. This makes it worthwhile for you to ensure you understand your reporting obligation, complete the survey if required, and file on time.