IRS issues new FAQ for QI/WP/WT

Type
:
Development
Tax Area
:
Others
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Aug
,
2024
Docxster’s Summary

The IRS has issued a new FAQ for qualified intermediaries, withholding foreign partnerships, and withholding foreign trusts. The FAQ provides guidance on the responsibilities and requirements for these entities under the Qualified Intermediary (QI) Agreement, including updates on the QI Compliance Review Program and the QI Periodic Review Certification. The FAQ also addresses common questions and concerns related to QI reporting and withholding obligations.

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Source :
KPMG
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