Tax & Accounting Blog

International Tax Authorities Strike Again

International Tax Authorities Strike Again

On October 11, 2012, the Federal Administration of Tax Revenues, the AFIP, of Argentina accused a large  agriculture biotechnology company  of using sham loans from related parties to avoid up to $77 million in taxes.  According to the AFIP, the company “pretended” to borrow money from related overseas parties to show lower revenues.  The lenders … Read More

Mississippi Requires Forms 1099-R to be Filed Electronically for 25 or More Forms

Mississippi Requires Forms 1099-R to be Filed Electronically for 25 or More Forms

The threshold for mandatory electronic filing of Forms 1099-R to the Mississippi Department of Revenue has been lowered from 50 forms to 25 forms. The Mississippi due date for electronically filed Forms 1099-R is March 31. Electronic filing, via upload, is through the state’s new TAP online electronic filing system.  The Form 1099-R electronic file must be … 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