Search Results for keywords:"withholding tax"

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Search Results: keywords:"withholding tax"

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  • 2021-02712 — Self-Regulatory Organizations; The Depository Trust Company; Order Approving a Proposed Rule Change To Update the Distributions Service Guide
    Type:Notice
    Citation:86 FR 8953
    Reading Time:about 12 minutes

    The Securities and Exchange Commission (SEC) has approved a rule change proposed by The Depository Trust Company (DTC) to update its Corporate Actions Distributions Service Guide. The changes clarify the interim accounting process, especially in cases of securities being delisted or when ex-dates change due to unscheduled stock exchange closures. DTC will no longer apply interim accounting when an ex-date shifts due to unexpected closures, reducing the workload on participants. Additionally, updates were made to the withholding tax regulations for non-U.S. participants. These adjustments aim to improve DTC's operational efficiency and enhance clarity for its participants.

    Simple Explanation

    The SEC said yes to some new rules from a company that helps keep track of who owns parts of big businesses. These rules help make things clearer about how and when to do tricky money counting tricks, especially when things get mixed up by surprise changes, making it easier for everyone to understand and work with.

  • 2021-03135 — Proposed Collection; Comment Request for Form 8804-C and TD 9394
    Type:Notice
    Citation:86 FR 9998
    Reading Time:about 3 minutes

    The Internal Revenue Service (IRS) is seeking public comments on two information collections related to reducing withholding tax under Section 1446. These are Form 8804-C, which allows foreign partners to potentially reduce or eliminate their share of withholding tax, and TD 9394, which includes final regulations for partnerships to consider certain deductions and losses for the same purpose. The IRS is requesting feedback by April 19, 2021, as part of their ongoing efforts to minimize paperwork and respondent burden.

    Simple Explanation

    The IRS wants people to tell them what they think about a form that could help some partners pay less tax when they make money from businesses in the U.S. They are checking to see if filling it out is too hard or if it's working well.

  • 2021-00954 — Proposed Collection; Comment Request for General Revision of Regulations Relating To Withholding of Tax on Certain U.S. Source Income Paid to Foreign Persons
    Type:Notice
    Citation:86 FR 5318
    Reading Time:about 3 minutes

    The Internal Revenue Service (IRS) is requesting comments from the public and federal agencies regarding the collection of information related to withholding tax on certain U.S. income paid to foreign individuals. This effort is part of the IRS's ongoing initiative to reduce paperwork and ease the burden on respondents. The IRS is particularly interested in suggestions for improving the usefulness, clarity, and accessibility of the information collection process. Comments should be submitted by March 22, 2021, and will help the IRS refine and potentially extend its current collection approvals.

    Simple Explanation

    The IRS wants to hear from people about how they collect information from foreigners who pay taxes on money they earn in the U.S., to make it easier for everyone. They hope the suggestions will make the process simple and clear.