Modesto California Form Instructions W-8BEN 2021-2025

Modesto California Form Instructions W-8BEN: What You Should Know

Instructions for Completing Form W-8BEN.pdf (this link may take a second to load) Instructions for Submitting the W-8BEN — SEC.gov Fill in the following sections: Page 1: Fill In the Beneficiary Identification Numbers, Name, and Social Security Number (SSA Number) under Beneficiary Identification Number, Payroll or Insurance Payroll Number: Beneficiary Number, if required. Page 2: Enter any other information you can imagine in this section for the Beneficiary, Sign the form and date the form Page 3: Enter the Date the form was received, or if it was received later than 10 days after filing, then enter the date of the last report the form was filed. Page 4: Fill in the amount the tax was withheld under: Enter the total amount the recipient paid directly to the Tax agency.  Enter the total amount that the recipient subsequently reported on their 1040 return (except for Social Security, which is taxable only to the person or government  that paid the benefits and not the recipient). The amount of withholding is limited to the maximum payment received by the Tax agency on the Form W-8BEN. However, the amount the beneficiary reported on Form 1040 is not included on Form W-8BEN.  Note that the IRS treats the tax paid directly to the Payroll or Insurance Payroll Office as income but not income that can be deducted from gross income on income tax form. The amount reported by the beneficiary on Form 1040 is taxed to the recipient based on their income level. Example. The amount  that the recipient reports under Schedule C is 750.00. The amount that the recipient pays directly to the Tax agency is 600.00. The IRS will determine the correct amount of tax due when it receives the 1040 tax form. In this example, the required withholding amount is 625.00. If the beneficiary were to pay the additional amount required to recover the tax on the 1040 tax form and that amount exceeds 625.

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