The IRS updated FAQ 23 (Q23) on FATCA, under the section General Compliance, extending penalty relief for the 2022, 2023, and 2024 calendar years in situations where a withholding agent withholds and reports on Forms 1042 and 1042-S by September 15 of the applicable year.
The penalty relief will apply with respect to dividend equivalent payments made with respect to a derivative referencing a partnership.
Kirsty is the CEO of TConsult Ltd.
Kirsty is passionate about communicating in simple, accessible language that everyone can understand. She specialises in translating complex tax technical documents into a form that allows financial institutions to make more informed compliance decisions.
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