Information reporting and withholding
A closer look at foreign bank reporting (FBAR, 6038D) and answers to your Form 1099 filing FAQs
We've come to expect a rapidly changing tax landscape as part of today's complex business environment. The increased regulatory focus on information reporting and withholding (IR&W) continues, with a growing list of provisions that taxing authorities in the US and abroad are using to improve tax compliance, increase revenue and close the tax gap worldwide. One such regulation deals with Foreign Bank Account Reporting (FBAR).
Reporting of interests in foreign bank accounts is increasing for both corporations and their employees under expanded FBAR rules and the HIRE Act §6038D. In 2012, most companies will have expanded filing requirements as well as added responsibilities for providing information to certain employees so that they can meet their own filing obligations and avoid significant penalties. Are your company's processes sufficient to meet these requirements? Are your officers and employees informed, knowledgeable and prepared to make the filings?
Join us for the first IR&W update webcast of 2012 and learn how best to prepare for filing in time to meet the FBAR filing deadline of 30 June 2012 and the corporate filing to be included with your tax return. You’ll hear from several of our top subject matter resources and front-line tax professionals, who’ll share their lessons learned from the field, along with leading practices that can help you comply and avoid pitfalls and penalties. They’ll also answer some of the most frequently asked questions about information return filing that we hear this time of the year.
If you want to stay on top of the issues and ahead of the IR&W curve, register today.
Debbie Pflieger, Ernst & Young LLP, Director of Information Reporting and Withholding Services
Elizabeth Askey, Ernst & Young LLP, Director of Northeast Tax Controversy and Risk
Maria Murphy, Ernst & Young LLP, Executive Director, Information Reporting and Withholding Services
John McMahon, Ernst & Young LLP, Americas Director of Information Reporting and Withholding Services