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Oct 22, 2020
6 min

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.

Oct 22, 2020
5 min

What do we do while we wait?

Any organizations making payments subject to U.S. federal tax withholding and information reporting or any Automatic Exchange of Information

Oct 22, 2020
5 min

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

Oct 22, 2020
2 min

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...

Oct 22, 2020
3 min

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

Oct 22, 2020
1 min

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

Oct 22, 2020
5 min

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

Oct 22, 2020
5 min

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

Oct 22, 2020
12 min

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

Oct 22, 2020
5 min

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

Oct 22, 2020
4 min

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

Oct 22, 2020
7 min

Expiring Withholding Certificates

Any payors and withholding agents that make payments of U.S. source fixed, determinable annual, or periodical income and collect withholding

Oct 22, 2020
8 min

“B” Notice Season Refresher

Any payors and withholding agents that filed information returns with a missing, incorrect, and/or not currently issued Taxpayer Identificat

Oct 22, 2020
3 min

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

Oct 22, 2020
4 min

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

Oct 22, 2020
5 min

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

Oct 22, 2020
6 min

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

Oct 22, 2020
4 min

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

Oct 22, 2020
5 min

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

Oct 22, 2020
5 min

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

Oct 22, 2020
3 min

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

Oct 22, 2020
6 min

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

Oct 22, 2020
6 min

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

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