Quote:
Originally Posted by Jet Set Cat
Your point is well taken and appreciated but I wasn?t really looking for advice as much as
giving my opinion about money earned by MFC (almost $100,000.00) from a foreign person/source, in this case a cam girl as being taxable, because a few in here are saying it is not taxable.
Yet the Department of Treasury Publication 515 states that a US company paying a foreign person is subject to U.S. Internal Revenue Service tax of 30% and has to be filed with the IRS with the appropriate forms.
Could you imagine the consequences if a site as large as MFC who are paying millions of dollars a week to foreign workers did not deduct the appropriate 30% tax? They would be ruined.
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What part do you not understand???
Take myself for an example, I am not a US tax subject. I do not run a company in the US, I do not reside in the US, I do not own property in the US and so on.
I pay my taxes in my country of residence and file a W8Ben form with each sponsor, which basically states that there is a tax treaty between the US and the country where I pay taxes and because of that, no tax will be paid or withheld in the US. Instead, the sponsor will pay me in full and I have to save a bit for the tax man myself.
Your opinion, as you state it, has no value here. What you "think" doesn't matter. Several have already explained how it works and why you are wrong. You obviously need to either accept that or go back and read the tax law again, again and again.