United States

2020 global information reporting considerations


The IRS has launched the Foreign Account Tax Compliance Act (FATCA) reporting and 1042-S compliance campaigns focused on enforcing regulations governing U.S.-sourced payments made to foreign persons. Additionally, new IRS Forms 1099-NEC for reporting nonemployee compensation and Forms 1099-LS and 1099-SB for reporting sales and acquisitions of life insurance contracts present new challenges for withholding agents in 2020. These increased enforcement efforts mean that financial institutions and multinational companies need to prepare for potential exams now and must have an understanding of the impact of these trends and changes on their systems, policies and procedures in order to mitigate risk and potential exposure.

Join RSM leaders as they provide an overview of recent IRS trends and changes in U.S. tax information reporting and withholding requirements. You will gain insights into what it really means for your company and what you can do now to stay ahead of the situation—from U.S. reporting to international tax considerations.

In this one-hour session, we discuss key areas financial, services and multinational companies need to consider now and throughout 2020:

  • The changes in U.S. reporting and withholding requirements including final regulations under 6050Y
  • IRS 1042 and 1042S campaign launch
  • The top action steps for clients to take to prepare for these changes
  • Managing risk associated with these changes

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Event details

Who should attend
Chief financial offers, tax directors and managers, other tax professionals, asset managers and other banking professionals, and compliance professionals


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