The Internal Revenue Service (IRS) is seeking public comments on two information collections related to reducing withholding tax under Section 1446. These are Form 8804-C, which allows foreign partners to potentially reduce or eliminate their share of withholding tax, and TD 9394, which includes final regulations for partnerships to consider certain deductions and losses for the same purpose. The IRS is requesting feedback by April 19, 2021, as part of their ongoing efforts to minimize paperwork and respondent burden.
Simple Explanation
The IRS wants people to tell them what they think about a form that could help some partners pay less tax when they make money from businesses in the U.S. They are checking to see if filling it out is too hard or if it's working well.