IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Withholding for rental payments made to property owners

December 8, 2021

Share

Q. We are collecting payments for the rental of condo units (real estate located in the US). We remit the net proceeds to the owners of the condo units (but understand that the gross amount is the reportable amount to the IRS). If we obtained a W-8ECI from the owners, do we need to perform withholding and remit to the IRS? A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098,…

Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.

Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.

What are you waiting for?

1

Become a Member

2

3

Attend an Event

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500

Accounts Payable & Procure-to-Pay ›

Accounts Receivable & Order-to-Cash ›