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W-8 form. What\'s that?
Thread poster: Restituta Castiello
Restituta Castiello
Local time: 03:45
English to Italian
Dec 10, 2001

Hi, I\'m an Italian free-lance translator and I\'m quite new to this forum. Lately I have been contactd by a US agency to which I submitted a translation test. They sent me a confidentiality agreement they asked me to sign and send back together with a form they also asked me to fill in for them. The form is the certificate of foreign status also called W-8 form. I\'ve read it over and I must admit I have hardly understood what it is about. Do I need it to certify my foreign status thus avoiding paying US taxes? Which parts should I fill in? In particular, when it says \"the owner\" I\'m not sure wehter I must put either my name or the name of the agency I own since it is the agency that eventually will emit bills to them in case of future job assignments. Besides, neither the agency nor myself are the beneficial owner of a portfolio interest in US. Does \"the owner\" just refer to the person or entity who signs the form or does refer to something else? Shall I sign the form with my name or the name and stamp of my agency?

Thanks in advance for your help.



Restituta


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Lester  Identity Verified
Local time: 21:45
Member
Portuguese to English
+ ...
W-8 made easy Dec 10, 2001

1) - Do I need it to certify my foreign status thus avoiding paying US taxes? YES; if you do not fill out the form, the American government has to withold taxes based on a projected amount you\'ll earn.



2) - Which parts should I fill in? All of it that apply.





3) OWNER - In the instructions OWNER is defined as the entity (person or business) to whom the income is paid. If you personally will receive the funds, then it is YOU; if the payment will be made to your company, then it is your AGENCY.



4) Does \"the owner\" just refer to the person or entity who signs the form or does refer to something else? - IT refers to the entity (person/company) in whose name the payment will be made.



5) Shall I sign the form with my name or the name and stamp of my agency? IF you sign as a company you need to submit form W-8IMY.



I am not an accountant nor a tax attorney, I have had the doubious pleasure of translating some IRS forms and I suggest you get their instructions of the internet (www.irs.gov). Read them carefully.



If the Italian tax laws allow you to, as owner, receive payment personally and transfer it to the company, I would do so.



Good luck. Gio



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Anila Mayhew  Identity Verified
United States
Local time: 18:45
English to Albanian
+ ...
Tax specialist Dec 10, 2001

I would also consult with a tax specialist just to make sure all is clear.



Also, have you ask for help from the company that sent you the paperwork? They should be able to answer your questions.



All the best,



Anila Mayhew


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isthmian
Local time: 20:45
English to Spanish
+ ...
Publication 515 Feb 18, 2002


Thanks Giovanna for the lead.

All Read Publication 515, Withholding of Tax on Nonresident Aliens

It can be downloaded from http://www.irs.gov/prod/forms_pubs/pubs/p515h2.htm

http://www.admin.mtu.edu/acct/dept/tax/irs6.html




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