Are you looking to learn more about the regulations surrounding the Foreign Account Tax Compliance act, “FATCA” or “Chapter 4”? Whether you are a bank… Read More »IMPORTANT FATCA TECHNICAL TERMS YOU NEED TO KNOW
This year’s Tax Reporting & Withholding Conference hosted by The Tax Reporting Group brought together tax professionals, compliance experts, and industry leaders to discuss the… Read More »2023 Tax Reporting & Withholding Conference Key Takeaways
Forms 1099 are used to report on U.S. persons who are receiving certain types of income, such as interest, royalties, and dividends. Unlike the Form… Read More »What are the Different Types of Forms 1099?
Are you interested in learning more about how upfront W-8 collection and validation can lead to easier and more accurate 1042-S reporting? Check out a… Read More »The Role that W-8 Collection Plays in 1042-S Reporting
On February 28, 2023, the IRS released IRS Tax Tip 2023-25, “What to do when a W-2 or Form 1099 is missing or incorrect”. This is a… Read More »How to Handle a Missing or Incorrect W-2 or Form 1099
On Tuesday, February 21, 2023, the IRS released final regulations amending the rules for filing electronically made by the Taxpayer First Act (“TFA”). The regulations… Read More »Final Regulations: Electronic-Filing Requirements for Specified Returns and Other Documents
With the Form 1099 reporting deadline quickly approaching, we are providing a refresh of the extension process below: Some providers should consider whether an extension… Read More »Form 1099 Extension Process
On December 30, the Internal Revenue Service (IRS) released Notice 2023-11, Foreign Financial Institution Temporary U.S. Taxpayer Identification Number Relief: https://www.irs.gov/pub/irs-drop/n-23-11.pdf As an overview, this… Read More »IRS Released Notice 2023-11
On December 23, 2022, the IRS released Announcement 2023-2 providing transitional relief and delaying the reporting for digital assets. These rules, originally expected to apply… Read More »IRS Released Announcement 2023-2
On December 23, 2022, the Internal Revenue Service (IRS) announced that a third-party settlement organization (TPSO) will not be penalized for failing to file, or… Read More »Form 1099-K $600 Reporting Threshold Delayed by IRS
