New Internal Revenue Service and Automatic Exchange of Information Guidance in May 2020
Over the last few weeks, a number of countries have published guidance regarding reporting in the year 2020.
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Any organizations making payments subject to U.S. federal tax withholding and information reporting or any Automatic Exchange of Information
New Internal Revenue Service and Automatic Exchange of Information Guidance in April 2020
Anyone making payments of U.S. reportable income will be interested in a listing of notable new guidance posted by the Internal Revenue Serv
The Cayman Islands announced updates for both FATCA and CRS reporting in response to COVID-19
The Department for International Tax Cooperation (DITC) of the Cayman Islands announced updates for both FATCA and CRS reporting in...
Global Response to the COVID-19 Crisis for AEoI Reporting in the year 2020
Over the last few weeks, a number of countries have published guidance regarding reporting in the year 2020. Due to the ongoing COVID-19 cri
Important Links for Information on COVID-19
Over the past few months we have seen efforts by governments around the world take steps to provide relief for those taxpayers impacted by C
Important Form 1042 Reminders for this Reporting Season
Over the last decade, we have seen both subtle and not so subtle changes to the Form 1042, Annual Withholding Tax Return for U.S. Source Inc
New Internal Revenue Service Guidance in January 2020
Anyone making payments of U.S. reportable income will be interested in a listing of notable new guidance posted by the IRS
Final Regulations Published in January 2020
On January 2, 2020, the Treasury and IRS published final regulations and removal of temporary regulations under chapters 3, 4, and 61 of the
Financial Institutions – Tips for Year End Information Returns and Related Workpapers
Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). Begin preparing for these automatic exchange of informa
How Accounts Payable Departments and Nonfinancial Organizations Can Prepare for Year-end Reporting
Any U.S. or non-U.S. company with an Accounts Payable Department or any non-financial company that makes payments to vendors will be interes
Expiring Withholding Certificates
Any payors and withholding agents that make payments of U.S. source fixed, determinable annual, or periodical income and collect withholding
“B” Notice Season Refresher
Any payors and withholding agents that filed information returns with a missing, incorrect, and/or not currently issued Taxpayer Identificat
DRAFT 2020 General Instructions for Certain Information Returns (Forms 1096, 1097, 1098, 1099, 3921,
Any payors and withholding agents filing information returns for the 2020 calendar year using a 2020 Form 1096, 1097, 1098, 1099, 3921, 3922
Substitute Forms W-9
Payors and withholding agents that make payments of reportable income will be interested in a quick refresher in the rules for using a subst
Automatic Exchange of Information Update
Any financial institution with an obligation to report under the Foreign Account Tax Compliance Act (FATCA) or the Common Reporting Standard
2019 DRAFT Form 1042 and Instructions
Any withholding agent, making payments of United States source fixed, determinable, annual, or periodical (FDAP) income to non-U.S. persons
A Refresher of the Rules for Electronic Delivery of Recipient Statements
Under the rules, a recipient must consent in the affirmative to receiving the statement electronically. The recipient must not have withdra
2019 Publication 1179, General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498,
Each year something changes in Publication 1179, which makes it one of the most important information return publications for payors and wit
Form 1099-NEC, Nonemployee Compensation
Any payors who in the course of their trade or business make payments of $600 or more of nonemployee compensation will be interested in the
New Internal Revenue Service Guidance in July 2019
In July, the IRS published several important updates. We hope this quick listing of new items posted in July is helpful to you! Be sure to
Middleman Rules Refresher – Part 2
As a reminder, a person making payments to a third party, for or on behalf of the recipient, will trigger the application of the middleman r
Middleman Rules Refresher – Part 1
Although nothing has changed, per se, the middleman rules never seem to at the top of anyone’s mind. When a question arises as to whether a