On June 16, 2022, the IRS provided an update on the transition to the new Information Returns TCC (IR-TCC) Application for Filing Informatio

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

On May 10, 2022, the Internal Revenue Service (IRS) published a new Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and W

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,

On May 3, 2022, the Internal Revenue Service (IRS) published Notice 2022-23 which sets forth the proposed amendments to the Qualified Interm

On April 27, 2022, the Internal Revenue Service (IDES) published Issue Number 2022-02 regarding the Foreign Account Tax Compliance Act (FATC

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

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

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

On April 5, 2022, a new Model 1 Intergovernmental Agreement (IGA) between Kazakhstan and the United States entered into force.

On April 13, 2022, the States of Guernsey Revenue Service issued Bulletin 2022/3 under the provisions for the Foreign Account Tax Compliance

On April 12, 2022, the Treasury Inspector General (TIGTA) published an April 7, 2022, Report Number 2022-30-019, titled ‘Additional Actions

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

On April 7, 2022, Internal Revenue Service (IRS) Commissioner Charles P. Rettig testified on agency operations and the President’s 2023 budg

On April 1, 2022, the Internal Revenue Service (IRS) published a Memorandum for all Large Business and International (LB&I) employees that r

The deadlines for reporting 2021 information under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) ar

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

On February 28, 2022, the IRS published Instructions for Form 941 (Rev. March 2022), Employer's QUARTERLY Federal Tax Return. Among the new

On February 28, 2022, the IRS published a new version of Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3

The Cayman Department of International Tax Cooperation (DITC) published a February 2022, Updates Bulletin, which includes a number of timely