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
Access Anytime, Anywhere
Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.
On-Demand Seminar Audio