Withholding Tax on Cross-Border Transactions Under Heightened IRS Scrutiny
Strategies to Improve Compliance and Minimize Audit Risks
Recording of a 100-minute CPE/CLE webinar with Q&A
This seminar will identify the more complex U.S. withholding obligations on cross-border transactions, explain the heightened IRS oversight in this area, and present best practices for improving compliance and preparing for audits.
- Overview of IRS Actions in Cross-Border Withholding Enforcement
- IRS Voluntary Compliance Program (VCP)
- IRM audit manual provisions
- Withholding tax elevated to Tier I level
- Best Practices to Improve Compliance and Minimize Audit Risks
- Detailed review of current withholding practices
- Remedial measures to correct deficiencies
- Use IRM audit guidelines to conduct internal audit
- Experience of participants in VCP
- Preparing for an IRS audit
- Potential Changes in Withholding Transactions
- Qualified intermediaries
- Obama’s proposals for withholding agents
The panel will review these and other key questions:
- What industries are primary targets of the IRS audit initiatives?
- What transactions will be given heightened scrutiny in an audit?
- Why is the IRS focusing heavily on audits of financial institutions' withholding?
- What information and documentation will companies need to produce in an audit to justify compliance with their withholding obligations?
Burt Staples & Maner
He specializes in international taxation and regulatory compliance. He has extensive experience with the United States... | Read More
He specializes in international taxation and regulatory compliance. He has extensive experience with the United States withholding and reporting rules for U.S. and non-U.S. persons, as well as the U.S. Patriot Act and various anti-money laundering regimes, the European Savings Directive, and e-commerce issues.Close
She is a Principal in KPMG’s Information Reporting Practice and specializes in cross-border withholding and... | Read More
She is a Principal in KPMG’s Information Reporting Practice and specializes in cross-border withholding and reporting issues. Prior to KPMG, she was with the IRS Office of Associate Chief Counsel where she worked with the section 1441 withholding regime, including co-drafting amendments to the 1441 regulations, the qualified intermediary agreement and qualified intermediary audit guidelines.Close
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On-Demand Seminar Audio