Tax & Accounting Blog

Regulations Require Updating of Employer Identification Numbers

Regulations Require Updating of Employer Identification Numbers

On May 3, 2013, the IRS issued final regulations that require any person assigned an employer identification number (EIN) to provide updated information to the IRS in the manner and frequency prescribed by forms, instructions, or other appropriate guidance.  These regulations affect persons with EINs and will enhance the IRS’s ability to maintain … Read More

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Why Nature of Income Paid to Foreign Vendors Matters Part 7 – Tax Treaty Exemptions from Withholding

A common withholding exemption is a claim under an applicable provision of an income tax treaty with the country of tax residence of the income’s beneficial owner. Such a claim must be made by the vendor on a valid Form W- 8BEN, or a Form 8233 in the case of treaty claims by individuals on … Read More

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U.S. District Court Rules that under ERISA and U.S. v. Windsor, Same-Sex Surviving Spouse Receives Death Benefit from Qualified Plan

On July 29, the United States District Court for the Eastern District of Pennsylvania issued an order that that a same-sex surviving spouse was entitled to receive the “surviving spouse” death benefit under an employer’s qualified employee benefit plan. The court found that the United States Supreme Court’s decision in United States v. Windsor, declaring … Read More

Who Is a U.S. Citizen and Why It Matters: Part 5 – Documentation of U.S. or Non-U.S. Status

Who Is a U.S. Citizen and Why It Matters: Part 5 – Documentation of U.S. or Non-U.S. Status

To assist payments with the task of identifying U.S. persons (i.e., U.S. citizens, resident aliens, and U.S. entities), the IRS provides Form W-9 which, in addition to providing important information about a payee, may act as a certificate of U.S. status (unless the payer has reason to doubt the validity of the document). … Read More

Who Is a U.S. Citizen and Why It Matters: Part 4 – Loss of  U.S. Citizenship?

Who Is a U.S. Citizen and Why It Matters: Part 4 – Loss of U.S. Citizenship?

The 14th amendment also prevents U.S. citizenship from being involuntarily cancelled. Although Congress enumerated certain acts that shall lead to a loss of citizenship, the Supreme Court has held that the only way a U.S. citizen may expatriate is through his or her own voluntary and intentional actions of renunciation or abandonment. Section 349(a) of the … Read More

IRS Electronic Tax Administration Advisory Committee Report – 2012

IRS Electronic Tax Administration Advisory Committee Report – 2012

Early this summer, the Electronic Tax Administration Advisory Committee (ETAAC) presented its 2012 Annual Report to Congress. The report discusses prior year recommendations and milestones before stressing significant inefficiencies caused by late legislation (often retroactive to the beginning of the year). There is not only a negative impact on tax compliance and e-filing administration, but also … Read More