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galstyan
Joined: 21 Mar 2008
Posts: 3207
Location: Yerevan,Armenia
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Posted: Wed May 27, 2009 3:15 pm
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I just received a mail from SS telling me about completing US IRS Form W-8BEN,Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding.
What I'd like to know are.
1. Is this new requirement in SS for foreign submitters ? Or it was there long time and I was somehow unaware about it.
2. Anybody else have received same mail ?
3. The mail says that if I'll not fill the form then SS will withhold 30% of my earnings. but filling the form will reduce that rate. Anybody knows anything about that reduced rate ? If SS will withhold my money does it mean that I don't need to pay taxes here myself? (Armenia has an income tax treaty with the United States ). |
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stefaniemohr
Joined: 23 Feb 2008
Posts: 768
Location: Nuremberg, Germany
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Posted: Wed May 27, 2009 3:20 pm
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I'va also just got that e-mail and am at least as upset as you are. No Answers to your questions though. I guess we will need to apply for that ITIN and somehow wriggle through all those forms.
It's really upsetting becaused I pay taxes on my earnings already here in Germany. I guess pretty soon I can give away my oics for free ... *sigh* ... |
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stefaniemohr
Joined: 23 Feb 2008
Posts: 768
Location: Nuremberg, Germany
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Posted: Wed May 27, 2009 3:25 pm
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| galstyan wrote: |
What I'd like to know are.
1. Is this new requirement in SS for foreign submitters ? Or it was there long time and I was somehow unaware about it.
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No idea .. maybe they've just forgotten about the two of us up to now :-)
| galstyan wrote: |
2. Anybody else have received same mail ?
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Yes ... meeeeeee *sigh*
| galstyan wrote: |
3. The mail says that if I'll not fill the form then SS will withhold 30% of my earnings. but filling the form will reduce that rate. Anybody knows anything about that reduced rate ? If SS will withhold my money does it mean that I don't need to pay taxes here myself? (Armenia has an income tax treaty with the United States ). |
No idea at all ... but minus 30 % in Us taxes and again in German taxes ... waht does that leave??? and I am sure as hell that Germany does not mind me paying taxes in the US but will want me to pay taxes on whatever amount of money arrives in my bank-account.
Well, maybe we can struggle through those forms together?? *looking hopeful* I am not even sure I do understand everything they explain on those sheets of how to fill in the forms. Nor do I get whether we ar any exceptions of that "federal income tax return" or whatever this is supposed to be ...
Last edited by stefaniemohr on Wed May 27, 2009 3:29 pm; edited 1 time in total |
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themightyshrub
Joined: 21 Jan 2009
Posts: 943
Location: www.heathergreig.co.uk
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tonygers
Joined: 27 Mar 2007
Posts: 2416
Location: Sweden
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Posted: Wed May 27, 2009 3:27 pm
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I too have gotten the email and will absolutely NOT pay taxes to a country I don't live or work in.
My business is my business and no one elses.
I will delete my entire portfolio from here if it turns out that part of my income from here goes towards helping America dig itself out of a hole by using part of my income to help with it.
Extremely angry about this right now.
>:-(
Tony |
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galstyan
Joined: 21 Mar 2008
Posts: 3207
Location: Yerevan,Armenia
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Posted: Wed May 27, 2009 3:29 pm
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we both get the mails almost in same time - so seems that this is something new not for both of us, but any other foreign submitter. |
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stefaniemohr
Joined: 23 Feb 2008
Posts: 768
Location: Nuremberg, Germany
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Posted: Wed May 27, 2009 3:32 pm
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Great! Can you give me that in German, please?! |
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bagwold
Joined: 11 Dec 2005
Posts: 347
Location: Wiltshire, England
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Posted: Wed May 27, 2009 3:32 pm
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Yes got the mail today - and cant understand why I need this i am a uk submitter and pay uk taxes? |
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rikko
Joined: 10 May 2007
Posts: 78
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Posted: Wed May 27, 2009 3:32 pm
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There is a message on the forum from Shutterstock that answers both your questions.
My question is why a privately owned company like the IRS is still illegally collecting taxes in the first place? |
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stefaniemohr
Joined: 23 Feb 2008
Posts: 768
Location: Nuremberg, Germany
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Posted: Wed May 27, 2009 3:36 pm
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Right ...
Step 1: get an ITIN
Step 2: Provide Form W-9
The thing is .. I am already stumbling about step 1 :-( |
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galstyan
Joined: 21 Mar 2008
Posts: 3207
Location: Yerevan,Armenia
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Posted: Wed May 27, 2009 3:36 pm
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OK,read it . they will not withhold anything if I'll fill the form... |
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stefaniemohr
Joined: 23 Feb 2008
Posts: 768
Location: Nuremberg, Germany
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Posted: Wed May 27, 2009 3:41 pm
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| galstyan wrote: | | OK,read it . they will not withhold anything if I'll fill the form... |
Yeah .. but have you also read what loops you need to jump to get that ITIN?
We needd to provide a federal income tax return. Can you figure out how they will deal with a GERMAN income tax return in America?? |
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stefaniemohr
Joined: 23 Feb 2008
Posts: 768
Location: Nuremberg, Germany
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Posted: Wed May 27, 2009 3:45 pm
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And who needs to certify the passport??
And is a passport the same as an identification card? |
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rikko
Joined: 10 May 2007
Posts: 78
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Posted: Wed May 27, 2009 3:46 pm
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Why is SS the only US based stock site requesting withholding tax payments/forms? |
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dmg
Joined: 26 Nov 2006
Posts: 1086
Location: http://dariusz-gudowicz.artistwebsites.com
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Posted: Wed May 27, 2009 3:47 pm
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It looks as instead of getting a raise we have to support falling US economy.
I am also starting to think about removing my portfolio. My earnings here are already much lower than the last year's.
If I have to pay both Polish and US taxes I would be soon not earning enough to cover even the cost of the Internet connection. |
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