IRS issue final and temporary final regs on international withholding

The IRS has issued corrections to final and temporary regulations, related to withholding of tax on certain U.S. source income paid to foreign persons, information reporting and backup withholding with respect to payments made to certain U.S. persons, and portfolio interest paid to nonresident alien individuals and foreign corporations. Most of the corrections clarify or correct inaccurate amendatory instructions that prevented items in T.D. 9808 from being incorporated. The corrections are effective June 30, 2017 and are applicable on January 6, 2017. (TD9808, June 30, 2017.)
In addition, the IRS has issued corrections to final and temporary regulations under chapter 4 of Subtitle A (sections 1471 through 1474) of the Internal Revenue Code relating to information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on certain payments to FFIs and other foreign entities. Several of the corrections clarify or correct inaccurate amendatory instructions that prevented items in T.D. 9809 from being incorporated. The corrections are effective June 30, 2017, and are applicable beginning January 6, 2017. (TD9809 and correction, June 30, 2017.)

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