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- Oct 28, 2022
- 1 min
IRS Issues 1099-K Reminder
On October 24, the IRS issued a reminder to taxpayers that they may receive Form 1099-K, Payment Card and Third-Party Network Transactions,
- Oct 12, 2022
- 1 min
FATCA Registration System: Sponsoring Entity Announcement
On October 11, 2022, the IRS announced that it has identified Sponsoring Entities that do not have Sponsored Entities registered in the FATC
- Oct 6, 2022
- 1 min
IRS QAAMS: New Sign-In Options
On October 3, 2022, the IRS announced that it will soon transition the Qualified Intermediary, Withholding Foreign Partnership, Withholding
- Jun 20, 2022
- 1 min
Phase 2 of the Information Returns (IR) Application for Transmitter Control Code (TCC) Transition
On June 16, 2022, the IRS provided an update on the transition to the new Information Returns TCC (IR-TCC) Application for Filing Informatio
- May 23, 2022
- 1 min
DRAFT 2022 Form 8804!
On May 19, 2022, the Internal Revenue Service (IRS) published a DRAFT 2022 Form 8804, Annual Return for Partnership Withholding Tax (Section 1446). The changes include: Updated Line 6d, now states, Section 1445(a) or 1445(e)(1) tax withheld from or paid by the partnership identified on line 1a during the tax year for a disposition of a U.S. real property interest (enter only amounts reported on Form(s) 8288-A and attach the Form(s) 8288-A to Form 8804). Updated Line 6e, now
- May 12, 2022
- 1 min
New QI, WP, WT FAQ 20!
On May 10, 2022, the Internal Revenue Service (IRS) published a new Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and W
- May 10, 2022
- 1 min
DRAFT Instructions for Requester of Forms W-8!!
On May 7, 2022, the Internal Revenue Service (IRS) published DRAFT Instructions for the Requester of Forms W-8BEN, BEN-E, ECI, EXP, and IMY,
- May 5, 2022
- 2 min
Notice 2022-23 Proposed Amendments to the QI Agreement!
On May 3, 2022, the Internal Revenue Service (IRS) published Notice 2022-23 which sets forth the proposed amendments to the Qualified Interm
- Apr 29, 2022
- 1 min
IRS Announces IDES Testing Session From June 6 through July 1, 2022!
On April 27, 2022, the Internal Revenue Service (IDES) published Issue Number 2022-02 regarding the Foreign Account Tax Compliance Act (FATC
- Apr 29, 2022
- 1 min
IRS Invites Recommendations on 2022-2023 Priority Guidance Plan
On April 26, 2022, the Internal Revenue Service (IRS) published Notice 2022-21, which invites the public to recommend items that they should include in the 2022-2023 Priority Guidance Plan. Each year, the Treasury Department’s Office of Tax Policy and the IRS use the priority Guidance Plan to identify and prioritize tax issues that they need to address via regulations, revenue rulings, revenue procedures, notices, and other administrative guidance. Although there is no for
- Apr 25, 2022
- 1 min
Publication 519 For Use in Preparing 2021 Returns is Now Final!
On April 20, 2022, the Internal Revenue Service (IRS) posted a final version of Publication 519, U.S. Tax Guide for Aliens, for use in prepa
- Apr 22, 2022
- 2 min
IRS Begins Sending Notices CP2100 and 2100A!
In case you missed it, the Internal Revenue Service (IRS) announced that beginning in mid-April, it will be sending out Notices CP2100 and 2
- Apr 19, 2022
- 1 min
New IGA between Kazakhstan and the United States
On April 5, 2022, a new Model 1 Intergovernmental Agreement (IGA) between Kazakhstan and the United States entered into force.
- Apr 19, 2022
- 1 min
Guernsey FATCA and CRS Reporting Reminders!
On April 13, 2022, the States of Guernsey Revenue Service issued Bulletin 2022/3 under the provisions for the Foreign Account Tax Compliance
- Apr 14, 2022
- 2 min
April 2022 TIGTA Report Finds FATCA Compliance Issues
On April 12, 2022, the Treasury Inspector General (TIGTA) published an April 7, 2022, Report Number 2022-30-019, titled ‘Additional Actions
- Apr 11, 2022
- 1 min
Reminder: FBAR Reporting Deadline is April 15
The IRS and FinCEN reminds U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. Filers who miss the April deadline will receive an automatic extension of time until October 15, 2022 to file their FBAR. The FBAR must be filed electronically with the Financial Crimes Enforcement Network (FinCEN), which is available through the BSA E-Filing System website. The Bank Se
- Apr 8, 2022
- 1 min
IRS Commissioner Support for Reciprocal FATCA Bill
On April 7, 2022, Internal Revenue Service (IRS) Commissioner Charles P. Rettig testified on agency operations and the President’s 2023 budg
- Apr 5, 2022
- 1 min
April 2022 IRS Memo Reissues Interim FATCA Guidance Memo
On April 1, 2022, the Internal Revenue Service (IRS) published a Memorandum for all Large Business and International (LB&I) employees that r
- Mar 8, 2022
- 2 min
A few Automatic Exchange of Information (AEoI) Reminders!
The deadlines for reporting 2021 information under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) ar
- Mar 4, 2022
- 1 min
2022 Publication 515 is now final!
On March 3, 2022, the Internal Revenue Service released Publication 515, Withholding
of Tax on Nonresident Aliens and Foreign Entities, for use in 2022. Changes include the updates to Form 1042-S Income and Chapter 3 Status Codes, a new Limitation on Benefits Code, changes to Forms W-8BEN, BEN-E, ECI, and IMY, changes to Forms 8288 and 8288-A and a new form for reporting under section 1446(f)(4) that is under development! Check out the 2022 Pub. 515 here: https://www.irs.gov
- Mar 2, 2022
- 1 min
Instructions for Form 941 (Rev. March 2022)
On February 28, 2022, the IRS published Instructions for Form 941 (Rev. March 2022), Employer's QUARTERLY Federal Tax Return. Among the new
- Mar 2, 2022
- 2 min
January 2022 Revision of Publication 1220!
On February 28, 2022, the IRS published a new version of Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3
- Feb 22, 2022
- 2 min
February 2022 Cayman DITC Updates Bulletin!
The Cayman Department of International Tax Cooperation (DITC) published a February 2022, Updates Bulletin, which includes a number of timely
- Feb 22, 2022
- 2 min
Updated 2022 Cayman DITC User Guide!
The Cayman Department for International Tax Cooperation (DITC) published an updated User Guide version 9.0 for use in 2022. Important updat