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Industry Updates

Industry Updates

Final Regulations Electronic-Filing Requirements for Specified Returns and Other Documents

Final Regulations: Electronic-Filing Requirements for Specified Returns and Other Documents

On Tuesday, February 21, 2023, the IRS released final regulations amending the rules for filing electronically made by the Taxpayer First Act (“TFA”). The regulations for specified returns will be effective as of the date published within the Federal Register which is scheduled for February… Read More »Final Regulations: Electronic-Filing Requirements for Specified Returns and Other Documents

Form 1099 Extension Process

Form 1099 Extension Process

With the Form 1099 reporting deadline quickly approaching, we are providing a refresh of the extension process below: Some providers should consider whether an extension is needed and applicable. Please refer to the IRS’s General Instructions for Certain Information Returns for specific due dates and… Read More »Form 1099 Extension Process

IRS released Notice 2023-11

IRS released Notice 2023-11

On December 30, the Internal Revenue Service (IRS) released Notice 2023-11, Foreign Financial Institution Temporary U.S. Taxpayer Identification Number Relief: https://www.irs.gov/pub/irs-drop/n-23-11.pdf As an overview, this notice is a refined and continued extension of temporary relief for Foreign Financial Institutions (“FFI”) in a Model 1 Intergovernmental… Read More »IRS released Notice 2023-11