Tax & Accounting Blog

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MERCY CORPS UTILIZING THOMSON REUTERS TECHNOLOGY TO INCREASE EFFICIENCY IN DOCUMENTING BOLIVIAN PROPERTY RIGHTS

My name is J.P. Soliz Molina, and I manage Thomson Reuters development team in Cochabamba, Bolivia where our team has been developing our OpenTitle software since 2009. This software system is used by governments and non-government organizations around the world to document, record, and map land rights. I am very proud to share … Read More

Upcoming ONESOURCE Trust Tax and Tax Information Reporting Webcasts

Upcoming ONESOURCE Trust Tax and Tax Information Reporting Webcasts

This May, join our Trust Tax and Tax Information Reporting experts as we wrap up our three part series on FATCA for trusts and begin a two-part series on payments to foreign vendors. Webcast Details: FATCA Compliance Implementation Part 3 for U.S. Payers in Trust, Bank and Brokerage Date: Wednesday, May 22 Time: 2:00 PM … Read More

IRS Private Rulings on Tax Reporting of Account-opening Bonus Payments for IRAs and 529 Plans

IRS Private Rulings on Tax Reporting of Account-opening Bonus Payments for IRAs and 529 Plans

The Internal Revenue Service has issued two private letter rulings concerning the reportability of a cash bonus credited to a customer’s IRA account – or to a section 529 higher education savings plan account – as an account-opening incentive. In both rulings, the IRS held that an IRA new-account incentive bonus required no 1099 reporting. … Read More