Posted by diabloblanco on 23rd of Dec 2022 at 07:45 am
Changes to Withholding Tax on Publicly Traded Partnerships
(PTPs)
As a result of recent U.S. legislation, effective January 1,
2023, gross proceeds from the sale of and distributions from PTPs
held by non-US tax residents (accounts which do not file W9
declarations) may be subject to 10% U.S. withholding tax.
Here is the impact to you if you hold a PTP position that has
income effectively connected with a U.S. trade or business: If you
sell the PTP after December 31, 2022, there will be a 10%
withholding tax applied to the gross proceeds from the sale.
Further details about this rule can be found on the
IRS site.
Impacted PTPs can typically be identified if:
They withhold 37% on distributions (21% on distributions to
corporations) or
They report income in Box 1 of their
K-1
reporting slip, or
They are on
a list of
American PTPsand
They do not publish a declaration on their tax info web page
that they are exempt from withholding on dispositions.
This one really is disconcerting! Looking through the list I
find a number of ETF'S we trade regularly such as USO, CORN,
DBA,EPD, KOLD, USL, UVXY, WEAT and UUP. I do know there are
many non-Americans who are members of BPT. If they are targeting
these, how long before they target SPY, QQQ etc.
Posted by retirefire on 23rd of Dec 2022 at 08:55 am
Zelenski's wife spent 40k Christmas shopping in Paris last week.
US is rich country (sarc). In debt and can't pass a budget. "Our
sources report you refused to clap"
Posted by libertina on 23rd of Dec 2022 at 09:30 am
Looks like fake news but thanks for your many good, informative
posts:
https://www.newsweek.com/zelenska-zelensky-ukraine-russia-paris-france-shopping-spree-1768736
Posted by retirefire on 23rd of Dec 2022 at 09:47 am
good grief I missed the fact check. Wonder if they were they
Boys Elon fired? Probably was her body double? Sorry I regressed
and will watch CNN for punishment. I heard the View even better.
I don't want to turn Matt's Community into a circus but this
country doesn't need herd immunity, it needs herd intelligence.
At the risk of possible cardiac arrest dare I suggest watch
video of Zelenski's speech yesterday. The only fact check I
employ is never go against Matt's SPY system.
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Changes to Withholding Tax on
Posted by diabloblanco on 23rd of Dec 2022 at 07:45 am
Changes to Withholding Tax on Publicly Traded Partnerships (PTPs)
As a result of recent U.S. legislation, effective January 1, 2023, gross proceeds from the sale of and distributions from PTPs held by non-US tax residents (accounts which do not file W9 declarations) may be subject to 10% U.S. withholding tax.
Here is the impact to you if you hold a PTP position that has income effectively connected with a U.S. trade or business: If you sell the PTP after December 31, 2022, there will be a 10% withholding tax applied to the gross proceeds from the sale. Further details about this rule can be found on the IRS site.
Impacted PTPs can typically be identified if:
They withhold 37% on distributions (21% on distributions to corporations) or
They report income in Box 1 of their K-1 reporting slip, or
They are on a list of American PTPsand
They do not publish a declaration on their tax info web page that they are exempt from withholding on dispositions.
I guess they need more money for Ukraine
irs.gov
Internal Revenue Service | An official website of the United States government
Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.
This one really is disconcerting!
Posted by mundy on 23rd of Dec 2022 at 03:41 pm
This one really is disconcerting! Looking through the list I find a number of ETF'S we trade regularly such as USO, CORN, DBA,EPD, KOLD, USL, UVXY, WEAT and UUP. I do know there are many non-Americans who are members of BPT. If they are targeting these, how long before they target SPY, QQQ etc.
Mundy, you should switch your
Posted by junkie on 23rd of Dec 2022 at 03:57 pm
Mundy, you should switch your broker. IB is a lot more transparent, and the list of partnerships is a lot shorter.
Zelenski's wife spent 40k Christmas
Posted by retirefire on 23rd of Dec 2022 at 08:55 am
Zelenski's wife spent 40k Christmas shopping in Paris last week. US is rich country (sarc). In debt and can't pass a budget. "Our sources report you refused to clap"
Looks like fake news but
Posted by libertina on 23rd of Dec 2022 at 09:30 am
Looks like fake news but thanks for your many good, informative posts: https://www.newsweek.com/zelenska-zelensky-ukraine-russia-paris-france-shopping-spree-1768736
newsweek.com
Fact Check: Did Zelensky's Wife Go on $40K Shopping Spree in Paris?
Social media users speculated about an outing that the first lady of Ukraine allegedly took during her visit to France earlier in December.
good grief I missed the
Posted by retirefire on 23rd of Dec 2022 at 09:47 am
good grief I missed the fact check. Wonder if they were they Boys Elon fired? Probably was her body double? Sorry I regressed and will watch CNN for punishment. I heard the View even better. I don't want to turn Matt's Community into a circus but this country doesn't need herd immunity, it needs herd intelligence. At the risk of possible cardiac arrest dare I suggest watch video of Zelenski's speech yesterday. The only fact check I employ is never go against Matt's SPY system.