IRS, U.S. Treasury | JD Supra Law News

Capital Infusion - May 2013: Tax Consequences: Noncompensatory Partnership Options

by Sean Clancy, Adam Connatser, Lindsay Faine, Jon Finger, Rani Hauth Guerra, J. Atwood Jeter, David McLean, George Schutzer | Patton Boggs LLP on 5/14/2013

The Department of the Treasury and the Internal Revenue Service issued final regulations, effective February 5, 2013, concerning the tax consequences of noncompensatory options and convertible instruments issued by a...more

Financial Services Quarterly Report - First Quarter 2013: FATCA: Next Steps for Asset Managers

by Adrienne Baker, Karl Paulson Egbert, Michael Hirschfeld | Dechert LLP on 3/27/2013

The U.S. Department of the Treasury (“Treasury”) and the U.S. Internal Revenue Service (“IRS”) released final regulations (“Regulations”) on January 17, 2013 implementing the Foreign Account Tax Compliance Act (“FATCA”).1...more

Bipartisan Group of Senators Wants Clarification of "Commencement of Construction" Under the Wind PTC

by Kimberly Barnashuk | Phillips Lytle - Renewable Energy on 3/15/2013

Last week, a group of U.S. Senators submitted a letter requesting swift clarification by the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) of language regarding the wind production tax...more

IRS Issues Guidance for Native Americans Regarding Tribal Trust Settlements

by Fuerst Ittleman David & Joseph, PL on 3/1/2013

The IRS recently issued guidance in the form of Notice 2013-1, available here, that provides guidance on federal tax treatment of certain per capita payments made to members of Indian tribes. The background for the Notice is...more

Treasury Finalizes Regulations on Noncompensatory Partnership Options

by Kevin Feeley, Patrick McCurry | McDermott Will & Emery on 2/27/2013

The U.S. Treasury Department recently released regulations on the tax treatment of noncompensatory options issued by a partnership, as well as proposed regulations addressing the threshold question of when a partnership...more

Tax, Benefits and Nonprofit Organizations Client Alert: New Tax Regulations on Noncompensatory Partnership Options

by Michael Anderson, Sean Clancy, Lindsay Faine, George Schutzer | Patton Boggs LLP on 2/24/2013

Overview - The Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (the Final Regulations), effective February 5, 2013, concerning the tax consequences of noncompensatory...more

The Treasury Department and IRS Release Final FATCA Regulations

by Ropes & Gray LLP on 2/22/2013

On January 17, 2013, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) released long-awaited final regulations on the set of statutory rules commonly referred to as FATCA. As more fully described in...more

Treasury Releases Final FATCA Regulations

by Richard J. Horne, Christina M. Iafe, Brian Silikovitz | Lowenstein Sandler LLP on 2/15/2013

On January 17, 2013, the U.S. Treasury Department released final regulations implementing sections 1471 through 1474 of the Internal Revenue Code (the “Code”), commonly known as the Foreign Account Tax Compliance Act or...more

Significant Changes Made in Final FATCA Regulations

by Adrienne Baker, Andrew Bloom, Michael Hirschfeld | Dechert LLP on 2/11/2013

On January 17, 2013, the U.S. Department of the Treasury (“Treasury”) and the U.S. Internal Revenue Service (the “IRS”) released final regulations (the “Regulations”) implementing foreign account reporting provisions of the...more

FATCA: Final Regulations Raise Questions for Trust Practitioners

by Sloane Jumper, Samantha Moore, John Nichols, Kurt Rademacher | Butler, Snow, O'Mara, Stevens and Cannada,... on 2/8/2013

In the wake of a series of scandals involving U.S. taxpayers sheltering their assets from the reach of the U.S. Internal Revenue Service (IRS), Congress enacted the Foreign Account Tax Compliance Act (FATCA) on 18 March 2010...more

Benefits and Compensation Alert - January 2013: IRS Issues Proposed Regulations On The “Employer Shared Responsibility” Penalties...

by Eric Britton, James Culbreth, Jr., Gary Diesing, Vivian Folk, Wyatt Holliday, Susan McClay, Scott Newsom, Bennett Speyer | Shumaker, Loop & Kendrick, LLP on 2/5/2013

To make certain that 2013 will be as exciting as 2012, on January 2 the US Treasury issued proposed regulations under section 4980H of the Internal Revenue Code (“Code”), which was added to the Code by the Patient Protection...more

IRS Releases Proposed Regulations on the Affordable Care Act's Play or Pay Mandate

by Proskauer Rose LLP on 1/31/2013

On January 2, 2013, the Department of Treasury and Internal Revenue Service (collectively “IRS") published proposed regulations ("Proposed Regulations") on the Affordable Care Act's employer shared responsibility provisions,...more

"Treasury and IRS Finalize Highly Anticipated FATCA Regulations"

by Jared Binstock, Roseann Cutrone, Pamela Lawrence Endreny, Edward Gonzalez, Yvonne Lee | Skadden, Arps, Slate, Meagher & Flom LLP on 1/25/2013

On January 17, 2013, the Treasury Department and the IRS issued comprehensive final regulations implementing Sections 1471 through 1474 of the Internal Revenue Code (commonly known as the Foreign Account Tax Compliance Act,...more

Final FATCA Rules Issued by U.S. Treasury Deparment: Future Impact Still Being Considered, But It Will Be Huge for International...

by Rosa Eckstein Schechter on 1/25/2013

This week, the Treasury Department released the Final Rules for FATCA -- the agency regulations that work to implement and enforce the Foreign Account Tax Compliance Act...more

Treasury Issues Final FATCA Regulations

by Jeremy Naylor, Ray Simon | White & Case LLP on 1/24/2013

Introduction - On January 17, 2013, the Department of the Treasury (“the Treasury”) and the Internal Revenue Service (the “Service”) issued final regulations (the “Regulations”) under Sections 1471 through 1474 of the...more

Health Care Reform: "Employer Mandate" Guidance Issued

by Deborah Bracy, John McGowan, Jennifer Mills | BakerHostetler on 1/24/2013

The U.S. Treasury Department recently released new guidance to assist employers (generally those with 50 or more full-time or full-time equivalent employees) in preparing and planning for the 2014 requirement to offer...more

2012-2013 Regulatory Agendas for Employee Benefits Published by DOL and Treasury

by Margaret C. Barker, Adam Cohen, Carol McClarnon, Jamey Medlin, Michael Miles, Joanna Myers, Vanessa Scott, W. Mark Smith, William Walderman, Carol Weiser | Sutherland Asbill & Brennan LLP on 1/3/2013

The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months. - On December 24, 2012, the U.S. Department of Labor (DOL) updated its 2012 Semi-Annual...more

FATCA Model II Agreement Released

by Jonathan E. Gopman, Elysa R. Merlin, Barbara E. Ruiz-Gonzalez, Sherwin P. Simmons, II | Akerman Senterfitt on 12/6/2012

The U.S. Department of Treasury ("Treasury") recently released its second model agreement (the "Model II Agreement") for countries to implement the Foreign Account Tax Compliance Act ("FATCA"). FATCA requires foreign...more

IRS Announces Extended FATCA Deadlines

by Proskauer Rose LLP on 10/26/2012

On October 24, 2012, the U.S. Internal Revenue Service (IRS) issued Announcement 2012-42: Timelines for Due Diligence and Other Requirements Under FATCA (Announcement). The Announcement provides that final regulations (Final...more

U.S. Treasury/IRS Amend FATCA Rules And Extend Certain Deadlines

by Patton Boggs LLP on 10/26/2012

As we move toward the end of 2012, many non-U.S. financial institutions have been eager for information on how the Foreign Account Tax Compliance Act (FATCA) is going to be implemented. They are the entities which will have...more

A Collective Sigh of Relief: IRS Announces Revisions to Timelines for Due Diligence and Other Requirements under FATCA

by Ropes & Gray LLP on 10/26/2012

Yesterday, in Announcement 2012-42, the Internal Revenue Service (IRS) announced its intention to modify proposed regulations issued in February 2012 by the IRS and Treasury Department that implement a set of statutory rules...more

United Kingdom and United States Conclude FATCA Intergovernmental Agreement

by Proskauer Rose LLP on 9/25/2012

On September 12, 2012, the United Kingdom became the first government to enter into an agreement (the "Agreement") with the United States regarding the U.S. withholding tax regime commonly referred to as the Foreign Account...more

IRS Releases Draft Form to Certify Status Of Individuals for Withholding Under FATCA

by Akerman Senterfitt on 9/19/2012

On September 11, 2012, the Internal Revenue Service (“IRS”) released a new draft version of Form W-8 BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individuals). This Form is used...more

FATCA G-5 Model Intergovernmental Information Sharing Agreements Released, with Substantial Benefits for Insurance Company FFIs...

by Sutherland Asbill & Brennan LLP on 7/31/2012

On July 26, 2012, the Treasury Department released two versions of a model intergovernmental agreement (model IGA) for government-to-government information sharing under the Foreign Account Tax Compliance Act (FATCA). One...more

Third FATCA Compliance Model Announced - Inter-Governmental Agreements

by King & Spalding on 7/6/2012

The U.S. Department of the Treasury (Treasury) issued joint statements with the governments of Japan and Switzerland on June 21, 2012 outlining a new framework for foreign financial institutions (FFIs) in those countries to...more

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Internal Revenue Service › U.S. Treasury