End of Course Quiz CPE
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Question 1 of 48
1. Question
In what year did the United States pass the Revenue Act that that introduced the concept of tax withholding and information reporting on payments made to non-U.S. persons?
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Question 2 of 48
2. Question
What does the acronym TEFRA stand for?
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Question 3 of 48
3. Question
What does the acronym FATCA stand for?
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Question 4 of 48
4. Question
Generally, who should submit a Form W-8, certificate of non-U.S. status?
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Question 5 of 48
5. Question
Which of these responses is not a type of withholding that we have discussed in this course?
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Question 6 of 48
6. Question
What does U.S. Source Income mean?
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Question 7 of 48
7. Question
Which form would a U.S. employer use to report wages paid to its employees?
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Question 8 of 48
8. Question
What does the IRS do with all the Information Returns that it receives?
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Question 9 of 48
9. Question
Who might expect to receive an information return on Form 1099?
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Question 10 of 48
10. Question
Why is it important to be able to distinguish between U.S. and Non -U.S. persons?
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Question 11 of 48
11. Question
Which of the following is not a U.S. person?
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Question 12 of 48
12. Question
Which of the following best describes the term ‘withholding agent?’
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Question 13 of 48
13. Question
A beneficial owner is:
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Question 14 of 48
14. Question
What type of information does the term documentation generally relate to?
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Question 15 of 48
15. Question
Why do we use the Form W-9?
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Question 16 of 48
16. Question
Which of the following statements is true?
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Question 17 of 48
17. Question
With respect to payments, what does Fixed and Determinable mean?
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Question 18 of 48
18. Question
Which of the following statements is correct?
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Question 19 of 48
19. Question
There are many publications, which one of the following deals primarily with NRA withholding?
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Question 20 of 48
20. Question
How do you determine the source of Dividends?
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Question 21 of 48
21. Question
Which of the following is the most accurate definition of a U.S. corporation?
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Question 22 of 48
22. Question
A Disregarded Entity can best be described as:
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Question 23 of 48
23. Question
What are we referring to when we use the term payee?
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Question 24 of 48
24. Question
Which type of documentation could a U.S. person use to certify status to a payor?
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Question 25 of 48
25. Question
Which person would be considered a U.S. resident for U.S. tax purposes based on the Substantial Presence Test?
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Question 26 of 48
26. Question
Which of the following pieces of information would not be found on a Form W-9?
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Question 27 of 48
27. Question
Which of the following pieces of information would not be found on a Form W-8BEN?
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Question 28 of 48
28. Question
A non-U.S. individual requesting treaty benefits for payments of personal services income would provide which type of withholding certificate?
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Question 29 of 48
29. Question
When a payor or withholding agent does not have reliable documentation on file for an income recipient, what rules would it apply?
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Question 30 of 48
30. Question
When would backup withholding start?
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Question 31 of 48
31. Question
On what form would a payor report royalty income paid to a U.S. person?
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Question 32 of 48
32. Question
Which notice does the IRS send to alert a payor that it reported an incorrect name or taxpayer identification number on Form 1099?
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Question 33 of 48
33. Question
Publication 1281 provides guidance on backup withholding for missing or incorrect names/taxpayer identification numbers. What information can be found in this publication?
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Question 34 of 48
34. Question
What types of income are reportable on Form 1099?
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Question 35 of 48
35. Question
When is the Form 945 due?
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Question 36 of 48
36. Question
Which sections of the Internal Revenue Code relate to Chapter 3?
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Question 37 of 48
37. Question
Which sections of the Internal Revenue Code relate to Chapter 4?
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Question 38 of 48
38. Question
What is the default rate of withholding for payments of U.S. sourced income to non-U.S. persons under chapter 3?
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Question 39 of 48
39. Question
Is there a interconnection with Chapter 3 and Chapter 4?
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Question 40 of 48
40. Question
On what form(s) would a withholding agent report U.S. source interest and dividends paid to a non-U.S. person that are subject to withholding under Chapter 4?
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Question 41 of 48
41. Question
What does the acronym ECI stand for?
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Question 42 of 48
42. Question
In what context would we used the acronym LOB, which stands for limitation on benefits?
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Question 43 of 48
43. Question
How many days does a non-U.S. person have to notify a withholding agent of a change in circumstances?
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Question 44 of 48
44. Question
What does FDAP stand for?
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Question 45 of 48
45. Question
When is Chapter 3 withholding required?
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Question 46 of 48
46. Question
Who could receive a Form 1042-S?
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Question 47 of 48
47. Question
What generally determines when a deposit of Chapter 3 and 4 withholding is due?
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Question 48 of 48
48. Question
Which type of income is an amount subject to chapter 3 withholding, but not a chapter 4 withholdable amount?
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