Updates to Chapter 3 Rules for withholding partnerships and trusts under
Jeffrey S. Freeman, J.D., LL.M
The IRS required all withholding foreign partnerships (WFPs) and withholding
foreign trusts (WFTs) to renew their status with the IRS by the end of August
2014. This is the first of several changes that effect WFPs and WFTs under
the commonly referred to FATCA “Chapter 3″ rules.
Existing FATCA Rules
When a US person makes a payment to a non-US person of US source interest,
dividends, or other income (excluding capital gains) they must withhold a 30%
tax. Exemptions and reduced rates exist, but would require the beneficial
owner to document on the appropriate Form W-8 their right to the exemption.
Payments must be reported to the IRS on Form 1042-S even is the payment is
exempt from withholding.
Changes under new procedures
Change is good and th... (more)
Santa Barbara, CA July 2014 – You’ve seen the blind taste tests
between one brand of soda and another. It can be hard to tell the difference
between the two. You put a driver in a Porsche sports car and there is
nothing that can replicate the feeling they get when driving.
The post Only a Porsche Will Give You The True Experience of Driving appeared
first on SmartFinds Internet Marketing.
Many covet the iconic Jaguar E-Type of the 1960s. even though they are
‘recreating’ six of the iconic lightweight versions, this likely
won’t put one in your garage. But Jaguar has given E-Type lovers a new
gift, the 2015 F-Type Coupe.
The post Falling In Love With The Jaugar F-Type appeared first on SmartFinds
Santa Barbara, CA July 2014 – Independence Day is a time where we
reflect and celebrate the freedoms that we enjoy in the United States. Acura
Santa Barbara wants to show our appreciation for those who have dedicated
their lives and serve in the military. Acura Santa Barbara proudly presents
the Acura Military Appreciation Offer.
Eligible customers receive $750 toward any 2014 or newer model year Acura
when you finance or lease through Acura Financial Services®(AFS) from July
1, 2014 through November 3, 2104. This offer can be combined with all other
AFS programs, except th... (more)
When shopping for your next vehicle you often consider your budget and the
type of vehicle. But, have you thought about how much your car will be worth
when it is ready for its next owner? Retained vehicle value should be an
important piece of your car buying analysis. Edmunds.com recently released
the 2014 Best Retained Value® vehicles, making your search even easier. Audi
shined as the 2014 Audi A5 won the best retained value award for the luxury
midsize convertible segment and the Audi Q7 won the luxury large SUV category
making them a smart investment.
The post Best Retaine... (more)