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URL:  https://boards.fool.com/interest-paid-nonresident-alien-12590995.aspx

Subject:  INTEREST PAID NONRESIDENT ALIEN Date:  5/18/2000  1:23 PM
Author:  honeydog Number:  35732 of 133128

USA CITIZEN RECEIVES USA SOURCED PROMISSORY NOTE INTEREST INCOME. HOWEVER, PENDING LITIGATION MAY AWARD A NONRESIDENT ALIEN (EGYPT RESIDENT -NO USA TAX TREATY) SUCH INTEREST. I UNDERSTAND USA CITIZEN OBLIGATED TO WITHHOLD AND REMIT IRS 30% OF USA INTEREST HE PAYS A NONRESIDEN ALIEN. THIS CITIZEN WANTS TO DEPOSIT INTEREST IN LAWYER TRUST ACCOUNT PENDING CANADA COURT DECISION. HOWEVER,LATER, IF EGYPT RESIDENT AWARDED INTEREST HE WILL LIKELY NOT REMIT ANY PORTION TO IRS. WILL USA CITIZEN THEN BE LIABLE FOR 30%?
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