This book presents a practical introduction to the new U.S. withholding tax rules, which changed radically following new U.S. Treasury Department regulations and other guidance. The cost of taxpayers' compliance with these changes has been astronomical. The author provides an authoritative and accessible description of the tax and reporting requirements, and makes a number of recommendations on compliance based on experience with the new rules so far. "New U.S. Withholding Tax Rules" guides the reader through the maze with 'real world' examples and diagrams, and includes a number of practical resources for further reference.
This book presents a practical introduction to the new U.S. withholding tax rules, which changed radically following new U.S. Treasury Department regulations and other guidance. The cost of taxpayers' compliance with these changes has been astronomical. The author provides an authoritative and accessible description of the tax and reporting requirements, and makes a number of recommendations on compliance based on experience with the new rules so far. "New U.S. Withholding Tax Rules" guides the reader through the maze with 'real world' examples and diagrams, and includes a number of practical resources for further reference.
Sprache
Verlagsort
Verlagsgruppe
Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
Illustrationen
Maße
Höhe: 234 mm
Breite: 156 mm
ISBN-13
978-1-904501-00-8 (9781904501008)
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Schweitzer Klassifikation
I GENERAL; 1. Background; 2. Rules and forms; 3. About this guide; 4. A few words about QIs and NQIs; II SUMMARY OF THE NEW REGULATIONS; 1. Withholding tax regulations; 2. Tax deposit and reporting requirements; 3. Requirements governing collection, refunds and credits of withheld amounts; 4. Regulations relating to the statutory exemption under sections 871(h) and 881(c) for portfolio interest; III HOW THE NEW RULES WORK; 1. Assumptions; 2. Assumptions regarding different types of foreign trusts; 3. How to comply with the U.S. Withholding Tax Regulations in selected cases; 4. Penalties; IV RECOMMENDATIONS; 1. Obtain all relevant information; 2. Categorize trusts; 3. Be careful when treaty benefits are claimed; 4. Watch out for portfolio interest; 5. Interpose foreign holding companies where the beneficiary of a simple trust or the grantor of a grantor trust is not providing a form W-BEN; 6. Avoid using family names when naming trusts; 7. Appoint an in-house expert; 8. Get advice whenever necessary; V FREQUENTLY ASKED QUESTIONS; Glossary; Workpapers