Tax & Accounting Blog

IRS Changes for Form 8809 Extension of Information Return Filing Deadline

IRS Changes for Form 8809 Extension of Information Return Filing Deadline

The IRS revised Form 8809, Application for Extension of Time to File Information Returns. There is a new procedure that determines whether you may use a paper copy of the Form 8809 or you need to go online to the IRS FIRE system and fill out Form 8809 by typing into the on-screen fill-in form.  You’ll be … Read More

Section 6050W Backup Withholding

Section 6050W Backup Withholding

In IRS Notice 2011-42 issued in May 2011, the IRS provided interim guidance for Third Party Settlement Organizations (TPSOs) with regard to backup withholding on payments to its participating payees.  The Notice eases backup withholding obligations for TPSOs, who may rely on this interim guidance until Section 3406 regulations are amended. The Notice provides that the Section … Read More

Join Us at the 2011 Tax Information Reporting Forum

Join Us at the 2011 Tax Information Reporting Forum

Information Reporting (1099) is becoming more complicated and the risks relating to non-compliance or inaccurate reporting are high. These recent changes to FATCA, 1099 reporting, 1042 and 1042-S, foreign reporting and cost-basis reporting will affect your business, whether it’s a corporation, a bank, trust department, or wealth management firm. Join us for a two-day, in-depth … Read More