I work in the online stock image industry and we desperately need help

J

jamers

New member
setting up tax withholding.? We have a lot of american and foreign artists that are contractors and we apparently have to set up withholding for the foreign artist. I have no idea how to start this, where/when to report and pay the withheld money, etc. Is there anyone out there that has experience (and references with their experience) to help us with this?
 
You ask US citizens/Us residents to file a W-9.
You ask the non-residents to fill out a w-BEN and give it to you.

You withhold 30% for royalties.
You send this to the IRS based on the schedule for 1042 withholding.

At the end of the year, you give them a 1042-S.

IRS pub 515.
 
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