Tax & Accounting Blog

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

New W-8BEN and W-8BEN-E Forms: Drafts Released by the IRS

New W-8BEN and W-8BEN-E Forms: Drafts Released by the IRS

Take a look at the future of Form W-8 documentation: the new draft Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individual), is on display at http://www.irs.gov/pub/irs-utl/formw8benindividualexecirculation2.pdf, and a draft of the all-new Form W-8BEN-E, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Entities), is posted … Read More

FATCA Public Hearing: Requests for Postponement of Effective Dates but No Immediate IRS Response

FATCA Public Hearing: Requests for Postponement of Effective Dates but No Immediate IRS Response

The IRS public hearing on the proposed regulations for FATCA (Foreign Account Tax Compliance Act), REG-121647-10, was held on May 15, 2012. More than 20 speakers were on the agenda, and 199 comment letters received by the IRS were posted online at http://www.regulations.gov/#!docketDetail;dct=O%252BSR%252BPS;rpp=25;po=0;D=IRS-2012-0009 (or see http://www.regulations.gov/ for Docket ID IRS-2012-0009). FATCA law established a new Chapter … Read More