Live online class featuring basic tax compliance for the requirements to determine status, withhold U.S. tax and file IRS Form 1042-S for payments to foreign entities and foreign individuals. Addresses issues under Code chapter 3 (withholding at source) and chapter 4 (FATCA, the Foreign Account Tax Compliance Act). Includes review of Forms W-8 for certification of status, rules for presumption of status in the absence of certification, federal deposit and Form 1042 filing for withholding tax liabilities, preparing Forms 1042-S, and pending regulations for cloud-based transactions. Learning objectives: Distinguish between payments to U.S. persons (reportable on Forms 1099) and payments to non-US. persons (reportable on Forms 1042-S and 1042); recognize the required elements for validity of W-8 forms and Form 8233 which certify foreign beneficial owners of income; identify payments reportable on IRS Form 1042-S; determine federal income tax withholding; prepare IRS Forms 1042-S and 1042.