Articles and Tax Tips

THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: How To Document Payees Claiming Treaty Benefits

Perhaps no information reporting issue is currently under greater IRS scrutiny than payments made to Non-Resident Aliens. Accordingly, this month's subscriber article takes a look at one particularly tricky part of this process: documenting Non-Resident Alien payee's claiming treaty benefits.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: U.S. Sourcing and Payment Classification

You have a Canadian software provider with servers in the U.S. The services provided include data cleansing and internet access use. In this week's tax tip let us examine whether such services are U.S. sourced and if so how you should classify the payment.

 

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: Making Sense of the New W-9 & The FATCA Exempt Payee Code

Late in August 2013 the IRS released a new Form W-9. Among other things this new W-9 features a number of changes prompted by FATCA (the Foreign Account Tax Compliance Act). In this week's tip let's take a more in depth look at one such change. 

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: Solutions for Eight of the Trickiest B-Notice Processing Issues

The IRS B-Notice informs a payer that he or she may be responsible for backup withholding and may need to pay to the IRS 28% for domestic payees if certain conditions are met.  This article is meant to act a as a troubleshooting tool for your use during this 2013 Fall B-Notice Season.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: The Fall B-Notice Waiting Game

Fall B-Notice season is upon us. You wait, and wait, but where is your B-Notice listing? What should you do? For this week's tax tip let's take a look at what you are waiting for, and why this will determine whether or not you will see a CP2100 or CP2100A notice (i.e. B-Notice).

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: Form 1099-K B-Notice and Penalty Relief Extended Under Certain Circumstances

There has been some recent new news on payment card transactions and the Form 1099-K vis a vis this fall's IRS B-Notices and Penalty Notices....

 

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: How to Handle Settlement Payments Paid in Multiple Years

When payments are made to a single payee in one year but then cashed in another year reporting can get tricky. But what happens if the payment arises out of the same settlement and is made to different parties in two different years? In this week's tax tip let's take a look at such a situation.

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

THIS MONTH'S FEATURED SUBSCRIBER ARTICLE: Evaluating The Effectiveness of One Typical 972-CG Waiver Request Excuse

In July the IRS started sending out its Forms 972-CG – the dreaded Proposed Penalty Notice. As such, the unfortunate recipients of these notices have been readying their excuses as to why the proposed penalty should be waived. Let's see how one top excuse actually stacks up in terms of its effectiveness...

 

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: The Accountable Plan Rules Documentation Requirements

The commonly relied upon "accountable plan" rules provide a vehicle for handling reimbursed expenses. However, we have found that the adequate accounting requirements for the documentation of employee's expenses are often not fully being satisfied. As such, this week let's review these due diligence requirements.

 

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]

TAX TIP OF THE WEEK: A More In Depth Look at the Recent Changes in FATCA Implementation

Earlier this summer the IRS released Notice 2013-43 revising the Foreign Account Tax Compliance Act (FATCA) implementation guidelines. In this week's tax tip we shall take a detailed look at the new timeline (with guidance provided on what the changes mean for you).

[Full text available to TIR Answer Center subscribers. Subscribe to read full article.]