Top 5 reporting and withholding actions to take before year-end
There are five key actions to take now to prepare to file information returns in January to ensure compliance with FATCA. From reviewing your structure to evaluating your 1099 and 1042 processes, conducting a self-assessment to identify and remediate gaps in your processes for complying with reporting and withholding requirements before year-end ensures that you file accurate and complete returns and do not under or over withhold taxes next year.

Regulations on acquired corporate life insurance policies
Favorable rule for corporate stock acquisitions where life insurance contracts are less than 50 percent of the target corporation’s assets. This exception applies upon the acquisition of any interest in a C corporation. It thus applies to an interest acquired via a tax-free reorganization structured as a stock acquisition. It does not, however, apply to an acquisition made via a tax-free reorganization structured as an asset acquisition.


op 5 reporting and withholding actions to take before year-end


Source: RSM US LLP
Used with permission as a member of the RSM US Alliance


At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit; and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest federal, state, and international tax news as well as updates pertaining to the Tax Cuts and Jobs Act. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Insero is separated from other CPA firms by our client service model which offers you year-round interaction and proactive advice from your client service partner. Yes, we’re sticklers about deadlines and compliance, but among our larger objectives is to help clients with tax management. So we keep an eye on federal, state, local, and international tax laws, including those which are pending and alert you to changes and help you respond in a timely way.