Tax & Accounting Blog

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New Details on FATCA Registration Process Released

The IRS’ June 20 FATCA Newsletter released new details on the FATCA registration process. The online system being built hopes to make foreign financial institution (FFI) registration as painless as possible. Some of the key details included in the newsletter are: FFIs will register through an online system Each FFI must designate a FATCA representative (referred to … Read More

Kentucky Offers Tax Amnesty, Cutting Interest in Half and Waiving Penalties

Kentucky Offers Tax Amnesty, Cutting Interest in Half and Waiving Penalties

The new Kentucky Tax Amnesty Act authorizes a tax amnesty program, which will be run by the state Department of Revenue for a period of no less than 60 days and no more than 120 days beginning on a date yet to be set in the fiscal year July 1, 2012 to June 30, 2013. … Read More

Organizations with Foreign Employees Face Compliance Challenges

Organizations with Foreign Employees Face Compliance Challenges

In this global economy, U.S. employers both large and small routinely employ non-U.S. citizens as well as U.S. citizens. The payroll withholding and reporting rules that apply to non-U.S. citizen employees are generally the same as for U.S. citizen employees if they are resident aliens (RAs) as that term is defined by Section 7701(b) of … Read More

Thomson Reuters Checkpoint Now Available On-The-Go!

Thomson Reuters Checkpoint Now Available On-The-Go!

  Here’s the latest way to stay connected to your tax and accounting research when you’re on the move… Thomson Reuters Checkpoint is now optimized specifically for smart phones or tablet. Whether you’re looking for topics on transfer pricing, tax provision or indirect tax, you can access all the tax research you need, wherever you are. Also, jump-start your … Read More

Subscribe to the FATCA News and Information List

Subscribe to the FATCA News and Information List

If you need to keep informed on news relating to foreign account compliance, the IRS is offering assistance in keeping current with FATCA reporting issues. You can now subscribe to their new “FATCA News and Information List.” By doing so, the IRS claims that you will receive their latest news, guidance, regulations and other public information … Read More

FATCA Conference in New York Highlights Industry Concerns

FATCA Conference in New York Highlights Industry Concerns

At the EEI 24th Annual Forum on International Tax Withholding and Information Reporting in New York on June 5-6, members of the U.S. and foreign financial industries met with key representatives of the IRS to explore the latest on FATCA regulations and implementation. Requirements from the USFI perspective were examined along with those from the FFI … Read More