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- Feb 25
- 1 min
2021 Instructions for Form 1042-S
On February 23, 2021, the IRS published the 2021 Instructions for Form 1042-S. Follow the link to review these new instructions. Updates include:
• Chapter 3 Exemption Code 02. This code is now for income "Exempt under IRC." A new footnote 7 clarifies that exemption code 02 should be used only if no other specific chapter 3 exemption code applies.
• Chapter 3 Exemption Code 24. This new code is for income that is "Exempt under Section 892."
• Requests for extensions of ti
- Feb 17
- 1 min
OECD Updated Guidance on Tax Treaties
In January, the OECD published Updated Guidance on Tax Treaties. Due to the many restrictions brought about by COVID-19 during 2020 and now continuing into 2021, the OECD Secretariat issued guidance on the impact of the pandemic on tax treaties - which represents its view on the interpretations of the provisions of these treaties. It is important to remember that the guidance represents the view of the Secretariat on the interpretation of the provisions of tax treaties. This
- Jan 28
- 1 min
2019 Cayman CRS Compliance Form Deadline Extension
In a DITC Portal Update, the Cayman government extended the 2019 CRS Compliance Form deadline to September 15, 2021. This extension is intended to accommodate the availability of a bulk upload option in CSV format, which will be released in advance of the revised deadline. The extension also aligns the deadline for both the 2019 CRS Compliance Form and the 2020 CRS Compliance Form, both of which are now September 15, 2021. Read the full update here: https://www.ditc.ky/wp-co
- Oct 22, 2020
- 1 min
ComplyPro joins Kaplan for its Advanced Bootcamp
ComplyPro continues to partner with Kaplan as they host their Advanced Bootcamp this week.
From Tuesday to Thursday you can join Kaplan as the guest speakers take you on a deep dive of section 871(m), including the fundamentals of identifying potential section 871(m) transactions, such as combined transactions, calculating the dividend equivalent amounts, monitoring for a payment event, and requirements for withholding and reporting.
After each session, you can join Com
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