Tag Archive for Amendments

IRS Allows Additional Time To Withholding Agents To Apply New Entity Account Procedures

Notice 2014-59 announces the intention of the Department of the Treasury (Treasury) and the IRS to amend certain provisions of the temporary regulations published under sections 1441, 1442, and 6049 of the Internal Revenue Code (Code) on March 6, 2014, to provide modified applicability dates with respect to:

1. The standards of knowledge applicable to a withholding certificate or documentary evidence to document a payee that is an entity under §1.1441-7(b); and
2. The rules under §1.6049-5(c) providing the circumstances under which a withholding agent or payor may rely on documentary evidence provided by a payee instead of a withholding certificate to document the foreign status of the payee for purposes of chapters 3 and 61. Read more

Correcting Amendments to the FATCA Regulations will be Released Today

Correcting Amendments to the FATCA Regulations will be Released TodayThe correcting amendments to final regulations (T.D. 9610) issued under FATCA as published in the Federal Register dated Sept. 10.

Internal Revenue Service
26 CFR Part 1
[TD 9610]
RIN 1545-BK68

Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain Payments to Foreign Financial Institutions and Other Foreign Entities; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendments.

SUMMARY: This document contains corrections to final regulations (TD 9610), which were published in the Federal Register on Monday, January 28, 2013 (78 FR 5874).

The regulations related to information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on certain payments to FFIs and other foreign entities. Read more

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