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FATCA : information reporting and withholding under Chapter 4 / by Stephen A. Nauheim [and others].

Additional Titles:
Foreign Account Tax Compliance Act, information reporting and withholding under Chapter 4
Published:
Arlington, VA : Tax Management Inc., [2014-]
Copyright Date:
©2014-
Physical Description:
1 online resource
Additional Creators:
Nauheim, Stephen A., 1942- and Tax Management Inc
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Series:
Contents:
Detailed Analysis. Introduction and history -- Rules applicable to withholding agents -- Rules applicable to FFIs -- Special considerations for insurance companies -- Special considerations for asset managers -- Rules applicable to NFFEs -- Special considerations for other industries and entities -- Payee identification procedures -- Intergovernmental agreements -- Liability for withheld tax and refund procedures -- Other FATCA provisions -- Working papers.
Summary:
" ... discusses the reporting and withholding requirements of chapter 4 ([section] 1471- [section] 1474) of the Internal Revenue Code, which generally requires: (i) non-U.S. financial institutions to enter into agreements with the Internal Revenue Service under which they agree to identify and report U.S. account holders, and (ii) non-U.S. nonfinancial entities to disclose direct and indirect U.S. owners in certain circumstances, and which imposes a 30% withholding tax on certain payments to non-U.S. financial institutions and nonfinancial entities that do not comply with chapter 4's requirements. The Portfolio covers the chapter 4 withholding and reporting mechanism; the definitions and requirements chapter 4 places on both foreign financial institutions and nonfinancial entities (including rules under which entities with certain characteristics may qualify for exemption from some or all of chapter 4's requirements); due diligence and reporting; refund procedures; the impact of intergovernmental exchange of information agreements; and specific issues affecting certain industries, such as asset management and insurance."
Subject(s):
Publication Frequency:
Updated irregularly
Note:
AVAILABLE ONLINE TO AUTHORIZED DICKINSON USERS; PASSWORD REQUIRED FOR ACCESS.
Bibliography Note:
Includes bibliographical references.
View MARC record | catkey: 19173098