Tax & Accounting Blog

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Switzerland and the United States Sign Bilateral Intergovernmental Agreement for Implementation of FATCA

The U.S. Department of the Treasury has announced the signing of a bilateral agreement with the government of Switzerland to facilitate implementation of the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA). “Today’s announcement marks a significant step forward in our efforts to work collaboratively to combat offshore … Read More

Thomson Reuters ONESOURCE Indirect Tax in the Cloud Provides Companies with New Deployment Model to Achieve Compliance with Confidence

Thomson Reuters ONESOURCE Indirect Tax in the Cloud Provides Companies with New Deployment Model to Achieve Compliance with Confidence

New York, February 26, 2013 — Thomson Reuters introduces today ONESOURCE Indirect Tax in the cloud, an end-to-end solution that manages the entire indirect tax lifecycle. Available to companies of all sizes regardless of business operation complexity, ONESOURCE Indirect Tax in the cloud leverages Thomson Reuters proven and patented global on-premise software that … Read More

Form 1042-S Information Reporting to Non-U.S. Persons Part 1

Form 1042-S Information Reporting to Non-U.S. Persons Part 1

Income payments made to non-U.S. persons must be reported on a Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, not on a Form 1099. Unlike Form 1099-reportable payments, there is no reporting exception for payments to corporations and no minimum dollar threshold for reporting on Form 1042-S. Reporting on Form 1042-S is … Read More