On December 23, 2022, the IRS released Announcement 2023-2 providing transitional relief and delaying the reporting for digital assets. These rules, originally expected to apply at the beginning of 2023 with reporting in 2024, will now be delayed until the Treasury Department and the IRS… Read More »IRS released Announcement 2023-2
Form 1099-K $600 Reporting Threshold Delayed by IRS
On December 13, 2022, the Internal Revenue Service (IRS) published Rev. Proc. 2022-43, the final Qualified Intermediary Agreement. While the agreement continues to adhere to many of the proposed amendments issued on May 3, 2022 (see our May 5th release: Notice 2022-23 Proposed Amendments to… Read More »IRS Releases Final Regulations to the QI Agreement
Greetings, With the Holidays approaching and a new year almost upon us, I would like to take this opportunity to thank all our colleagues, clients, partners, and suppliers. We are sincerely grateful for your friendship, loyalty, and support. We do appreciate that we would not… Read More »A Holiday Message from Our CEO
The IRS just released the application to apply for a Transmitter Control Code (TCC) to e-file Forms 1099 through the Information Returns Intake System (“IRIS”). You can access the application using the link below: IRIS Application for TCC | Internal Revenue Service (irs.gov) To be… Read More »IRIS Application for TCC code Released on December 12th
With the 2022 year quickly coming to an end, Form 1099/ Form 945 reporting will soon be upon us with Form 1042/ 1042-S right on its heels. We hope that this year-end release will provide insightful guidance for your reporting season and for the… Read More »Download the 2022 Year-End Brochure!
On October 24, the IRS issued a reminder to taxpayers that they may receive a Form 1099-K, Payment Card and Third-Party Network Transactions, beginning in 2023, if the taxpayer earned income in 2022 from the sale of goods and/ or providing services. (Reminder: Service providers,… Read More »IRS Issues 1099-K Reminder
On October 11, 2022, the IRS announced that it has identified Sponsoring Entities that do not have Sponsored Entities registered in the FATCA Registration System. A Sponsored Entity is a Sponsored FFI or Sponsored Direct Reporting NFFE. The IRS will be contacting the Sponsoring Entities… Read More »FATCA Registration System: Sponsoring Entity Announcement
On October 3, 2022, the IRS announced that it will soon transition the Qualified Intermediary, Withholding Foreign Partnership, Withholding Foreign Trust Application and Account Management System (QAAMS) to a new sign-in system. The new system will require new users to register or sign-in with ID.me,… Read More »IRS QAAMS: New Sign-In Options
Comply Exchange is excited to welcome Colin Brien onboard as their Chief Growth Officer. Colin has spent the majority of this career in public accounting, focusing on U.S. reporting and withholding (i.e. Forms 1099 and backup withholding), Non-Resident Alien reporting and withholding (i.e., Forms 1042-S… Read More »Comply Exchange is excited to welcome on board Colin Brien!
Comply Exchange was built to give businesses and individuals alike the support that they need to comply with the complex and ever-evolving regulatory tax burdens imposed by the IRS and other global authorities with respect to information reporting and withholding.
Reach out to our experts today to schedule a demo and see how our software and services can help you streamline and automate your tax compliance needs.
