U.S. Termination of 1979 Income Tax Treaty with Hungary
On July 8, the U.S. Treasury Department provided notice to Hungary that it is terminating the U.S.-Hungary income tax treaty, first enacted
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- Nov 17, 2021
- 1 min
2022 IRW Penalties
On November 8, 2021, the IRS published Revenue Procedure 2021-45, which includes information return penalties for tax year 2022.
- Nov 15, 2021
- 1 min
The IRS announced the availability of the Form 1042-S Data Integrity Tool
On November 15, 2021, the IRS announced the availability of its Form 1042-S Data Integrity Tool.
- Nov 4, 2021
- 1 min
DRAFT Instructions for Form W-7 (Rev. November 2021)
On November 3, 2021, the IRS published DRAFT Instructions for Form W-7, Application for IRS Individual Taxpayer Identification Number to be
- Jul 9, 2021
- 1 min
New DRAFT 2022 Form 1099-DIV
On July 2, 2021, the IRS published a DRAFT 2022 Form 1099-DIV. This new form includes the following key changes: The 2022 Form 1099-DIV will be a continuous use form. The FATCA filing requirement checkbox is now Box 11. This caused the following renumbering to occur: OLD Box 11 for reporting exempt-interest dividends from a mutual fund or other Registered Investment Company (RIC) is now NEW Box 12. OLD Box 12 for reporting exempt-interest dividends subject to the alternative
- Jun 30, 2021
- 2 min
Preview the DRAFT 2021 Pub. 1179
On June 28, 2021, the IRS published a DRAFT Pub. 1179, General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498
- Jun 15, 2021
- 3 min
Kaplan Conference - Takeaways
On June 10th and 11th, we sponsored and attended the International Tax Withholding & Information Reporting Virtual Conference hosted by
- Jun 14, 2021
- 4 min
FY 2022 Revenue Proposals Impacts
Last month, the Department of the Treasury published its Fiscal Year 2022 Revenue Proposals (The Proposals) which impact U.S. federal tax...
- May 26, 2021
- 1 min
We're Sponsoring Kaplan’s International Tax Withholding & Information Reporting Virtual Conference
We are excited to announce that Comply Exchange will be sponsoring this year’s International Tax Withholding & Information Reporting...
- Apr 23, 2021
- 1 min
Join Us at the 2021 Tax Reporting & Withholding Conference!
We will be both sponsoring and speaking at the 2021 Tax Reporting & Withholding Conference on April 27th and 28th.
- Apr 22, 2021
- 2 min
Know Your Potential Information Reporting Penalties!
Penalties for not filing correct information returns may apply if a filer:
- Apr 19, 2021
- 2 min
1099 Errors & Corrections
Now that Forms 1099 have been filed for the year, it is time to consider any errors noted and the corrections required.
- Apr 1, 2021
- 2 min
Cayman DITC Updates!
On March 31, 2021, the Cayman DITC posted an Updates Bulletin addressing FATCA, CRS, Economic Substance, and the CbCR Portal Accessibility.
- Mar 12, 2021
- 1 min
Dual Form Submission
The Comply Exchange E-Forms solution eliminates the need for multiple form solicitation by providing a streamlined 'Dual Certification' pro
- Mar 5, 2021
- 2 min
Forms 1042 & 1042-S Reminders
Comply would like to share a few reminders as we head into the filing season for 2020 Forms 1042 and 1042-S.
- Mar 1, 2021
- 1 min
BVIFARS Portal Is Now Open!
The BVI Financial Account Reporting System (BVIFARS) Portal is open.
- Feb 25, 2021
- 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 23, 2021
- 1 min
Welcome to the team!
Comply is happy to announce Carolyn Luke has joined the team!
- Feb 17, 2021
- 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
- Feb 9, 2021
- 1 min
2020 Form 5471 Instructions
On January 28, 2021, the IRS published Instructions for Form 5471, which include significant changes.