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Vol 23 No 2 Feb/March 2018

Book of the Month

Cover of The UK Supreme Court Yearbook Volume 8: 2016-2017 Legal Year

The UK Supreme Court Yearbook Volume 8: 2016-2017 Legal Year

Edited by: Daniel Clarry
Price: £120.00

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New U.S. Withholding Tax Rules

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ISBN13: 9781904501008
ISBN: 1904501001
Published: January 2003
Publisher: Richmond Law & Tax Ltd
Country of Publication: UK
Format: Hardback
Price: £75.00

Despatched in 5 to 7 days.

This is a practical introduction to the new US withholding tax rules, which changed radically following new US Treasury Department regulations and other guidance. The cost of taxpayers' compliance with these changes has been astronomical. The author provides an authoritative and accessible description of the tax and reporting requirements and makes a number of recommendations on compliance based on experience with the new rules so far. The book guides the reader through the maze with ""real world"" examples and diagrams, and includes a number of practical resources for further reference.

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General - background, rules and forms, about this guide, a few words about QIs and NQIs; summary of the new regulations - withholding tax regulations tax deposit and reporting requirements, requirements governing collection, refunds and credits of withheld amounts, regulations relating to the statutory exemption under sections 871(h) and 881(c) for portfolio interest; how the new rules work - assumptions, assumptions regarding different types of foreign trusts, how to comply with the US withholding tax regulations in selected cases, penalties; recommendations - obtain all relevant information, categorize trusts, be careful when treaty benefits are claimed, watch out for portfolio interest, interpose foreign holding companies where the beneficiary of a simple trust or the grantor of a grantor trust is not providing a form W-BEN, avoid using family names when naming trusts, appoint an in-house expert, get advice whenever necessary; frequently asked questions, workpapers.