What is the impact of the W8-BEN form on cryptocurrency investors in the US?

3 answers

• Nov 25, 2021 · 3 years ago
  The W8-BEN form is a tax form that is required by the US Internal Revenue Service (IRS) for non-US individuals who earn income from US sources. For cryptocurrency investors in the US, filling out the W8-BEN form is important because it determines the tax withholding rate on their earnings. By submitting this form, investors can claim treaty benefits and potentially reduce the amount of tax withheld on their cryptocurrency earnings.
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• Nov 25, 2021 · 3 years ago
  The impact of the W8-BEN form on cryptocurrency investors in the US is that it affects the amount of tax withheld on their earnings. By properly filling out and submitting the form, investors can potentially reduce their tax liability and keep more of their earnings. It is important for investors to understand the requirements and implications of the W8-BEN form to ensure compliance with US tax laws.
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• Nov 25, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the W8-BEN form is an important document for cryptocurrency investors in the US. It allows investors to claim treaty benefits and potentially reduce their tax liability. By properly filling out and submitting the form, investors can ensure compliance with US tax laws and optimize their tax situation. It is recommended for all US-based cryptocurrency investors to consult with a tax professional to understand the specific impact of the W8-BEN form on their individual circumstances.
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