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Aug 26, 20211 min read

DRAFT Pub. 1167,General Rules and Specifications for Substitute Forms and Schedules

On August 18, 2021, the IRS published a DRAFT Publication 1167, General Rules and Specifications for Substitute Forms and Schedules.

Aug 25, 20211 min read

IRS Pushes Applicability Date of Certain Provisions Under Sections 1446(a) and (f)

On August 24, 2021, the IRS published Notice 2021-51, intending to defer the applicability date of certain provisions under sections 1446(a)

Aug 13, 20211 min read

Cayman DITC Posts New Updates Bulletin

On August 20, 2021, the Cayman Department of International Tax Cooperation posted a new Updates Bulletin that includes Common Reporting Stan

Aug 4, 20211 min read

Attention UK Financial Institutions – the new FIN is in effect!

In June 2021, Finance Bill 2021 received its royal asset. This bill introduced legislation to bring in a new Financial Institution Notice (F

Jul 30, 20211 min read

FIRE Updates Are Scheduled to Deploy on September 26, 2021!

Don’t forget the Filing Information Returns Electronically (FIRE) updates coming in September 2021, where we will see

Jul 30, 20213 min read

Incremental Step-down to 250-return Electronic Threshold Is Coming!

On July 23, 2021, the Department of the Treasury and Internal Revenue Service published Proposed Rules for Electronic Filing Requirements

Jul 23, 20213 min read

Don’t Forget About the Large Business and International Active Campaigns!

Every now and again, taxpayers should have a look at the Large Business and International Division list of currently active campaigns.

Jul 16, 20211 min read

New Publication 5147

On July 6, 2021, the IRS released new Publication 5147, Foreign Account Tax Compliance Act (FATCA) Foreign Financial Institution (FFI)

Jul 9, 20211 min read

New DRAFT 2022 Form 1099-DIV

On July 2, 2021, the IRS published a DRAFT 2022 Form 1099-DIV. This new form includes the following key changes: The 2022 Form 1099-DIV...

Jun 30, 20212 min read

Preview the DRAFT 2021 Pub. 1179

On June 28, 2021, the IRS published a DRAFT Pub. 1179, General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498

Jun 16, 20211 min read

Notice 2021-36 Deferring Applicability Date For QDP Reporting

On June 10, 2021, the IRS published Notice 2021-36, stating that it intends to amend regulations under sections 59A and 6038A to defer...

Jun 14, 20214 min read

FY 2022 Revenue Proposals Impacts

Last month, the Department of the Treasury published its Fiscal Year 2022 Revenue Proposals (The Proposals) which impact U.S. federal tax...

May 26, 20211 min read

We're Sponsoring Kaplan’s International Tax Withholding & Information Reporting Virtual Conference

We are excited to announce that Comply Exchange will be sponsoring this year’s International Tax Withholding & Information Reporting...

May 4, 20211 min read

Cayman DITC Updated Bulletin

The DITC Compliance Team identified certain areas where FIs may not have complied with CRS Regulations.

Apr 23, 20211 min read

Join Us at the 2021 Tax Reporting & Withholding Conference!

We will be both sponsoring and speaking at the 2021 Tax Reporting & Withholding Conference on April 27th and 28th.

Apr 22, 20212 min read

Know Your Potential Information Reporting Penalties!

Penalties for not filing correct information returns may apply if a filer:

Apr 19, 20212 min read

1099 Errors & Corrections

Now that Forms 1099 have been filed for the year, it is time to consider any errors noted and the corrections required.

Apr 1, 20212 min read

Cayman DITC Updates!

On March 31, 2021, the Cayman DITC posted an Updates Bulletin addressing FATCA, CRS, Economic Substance, and the CbCR Portal Accessibility.

Mar 12, 20211 min read

Dual Form Submission

The Comply Exchange E-Forms solution eliminates the need for multiple form solicitation by providing a streamlined 'Dual Certification' pro

Mar 1, 20211 min read

BVIFARS Portal Is Now Open!

The BVI Financial Account Reporting System (BVIFARS) Portal is open.

Feb 17, 20211 min read

OECD Updated Guidance on Tax Treaties

In January, the OECD published Updated Guidance on Tax Treaties. Due to the many restrictions brought about by COVID-19 during 2020 and...

Feb 5, 20211 min read

2021 Increase in Information Reporting Penalties

Reminder! The information return penalties have increased for tax year 2021. Here are the changes from 2020 to 2021.

Jan 28, 20211 min read

2019 Cayman CRS Compliance Form Deadline Extension

In a DITC Portal Update, the Cayman government extended the 2019 CRS Compliance Form deadline to September 15, 2021. This extension is...

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