Definition: Interest that appears to qualify as portfolio interest based on the above definition will not qualify as portfolio interest if it is contingent interest or if… Read More »Interest that is not Portfolio Interest
Definition Penalties applicable to CTW information and tax returns for failure to file, failure to file correctly and failure to pay. Intentional failure to file… Read More »Overall
Definition: Original Issue Discount (OID) is the excess of the stated redemption price at maturity over the issue price. In simpler terms, it is when… Read More »Original Issue Discount
Definition: An obligation is in registered form if the obligation meets one of the following requirements: The obligation is registered (or a registration-required obligation) as to both… Read More »Obligations in Registered Form
Definition: Nonresident (NRA) reporting is required for amounts of U.S. source fixed, determinable annual, or periodical (FDAP) income paid to non-U.S. persons. These amounts are subject… Read More »Nonresident Alien Reporting
Definition: Foreign targeted registered obligations must meet two requirements: The obligation must be registered “as to both principal and any stated interest” with the issue… Read More »Foreign Targeted Registered Obligations
Definition A bearer obligation is foreign targeted if: There are arrangements to ensure that the obligation will be sold, or resold in connection with the… Read More »Foreign Targeted Debt in Bearer Form
Definition Contingent Interest is either: Interest that is determined by reference to: Any receipts, sales, or other cash flow of the debtor or related person… Read More »Contingent Interest
