Services to help comply with U.S. and foreign withholding and information reporting regimes
Comply with accuracy
Meet U.S. and foreign information reporting and withholding (IRW) compliance obligations accurately and on time.
Reduce risk of penalties
Reduce or eliminate penalties resulting from improper, delayed, or noncompliant IRW processes.
Keep up with change
Access a team that understands IRW challenges and can help you stay abreast of detailed and ever-evolving due diligence, withholding, and reporting requirements.
Taking the complexity out of compliance
The KPMG Information Reporting & Withholding Tax Services practice offers a wide range of IRW-related consulting services and technology solutions to help our clients navigate both U.S. and non-U.S. regimes, such as:
Internal Revenue Code Chapters 3, 4, and 61
Foreign Account Tax Compliance Act (FATCA)
Common Reporting Standard (CRS).
We can help you manage complex U.S. and foreign reporting, withholding, and due diligence rules; assist you with filing and compliance matters related to Forms 1042-S, 1099, 8966, W-8, W-9, and 8233; and support you in complying with cost-basis reporting, IRC sections 871(m) and 1446(f), FBAR filings, and crypto/digital assets. You can also turn to our IRW team to develop and deliver training to your organization on U.S. and global IRW topics.
Advisory/Consulting Services
Our team can assist you with addressing U.S. and global IRW issues and can be available on an on-call basis. With both technical and practical experience, we can recommend industry-leading practices in such areas as vendor evaluations, target operating model development, and building of compliance processes to address regulatory changes.
Our team can assist you with addressing U.S. and global IRW issues and can be available on an on-call basis. With both technical and practical experience, we can recommend industry-leading practices in such areas as vendor evaluations, target operating model development, and building of compliance processes to address regulatory changes.
Audit/Health Checks
IRS audits are stressful. Our deep experience enables us to help you mitigate audit risks with health checks that cover U.S. resident and nonresident withholding, FATCA and qualified intermediary compliance, responsible officer certifications, and diagnostics of processes and systems for crypto/digital assets, among other items.
IRS audits are stressful. Our deep experience enables us to help you mitigate audit risks with health checks that cover U.S. resident and nonresident withholding, FATCA and qualified intermediary compliance, responsible officer certifications, and diagnostics of processes and systems for crypto/digital assets, among other items.
Managed Services
When targeted support isn’t enough, we stand ready with KPMG IRW On Demand—managed services support with customized and compliant processes, proprietary enablers, and strategic use of automation—to help you meet your IRW compliance obligations, encompassing tax documentation, due diligence, and reporting.
Read more
When targeted support isn’t enough, we stand ready with KPMG IRW On Demand—managed services support with customized and compliant processes, proprietary enablers, and strategic use of automation—to help you meet your IRW compliance obligations, encompassing tax documentation, due diligence, and reporting.
Read more
Logic/Technical Support
Our tech-smart IRW professionals work closely with KPMG Ignition to customize systems logic and proprietary software. We also have significant experience writing tax technical memos on complex issues and requirements documents or logic to assist your internal IT team with new or updated systems of accounting.
Our tech-smart IRW professionals work closely with KPMG Ignition to customize systems logic and proprietary software. We also have significant experience writing tax technical memos on complex issues and requirements documents or logic to assist your internal IT team with new or updated systems of accounting.
Tools and Technology Solutions
KPMG IRW Tax Services includes a range of technology solutions that can help you comply with U.S. and foreign withholding requirements and reporting regimes. Our tools include the KPMG IRW e-Delivery Tool, the RO Toolkit, and the QI Toolkit.
KPMG IRW Tax Services includes a range of technology solutions that can help you comply with U.S. and foreign withholding requirements and reporting regimes. Our tools include the KPMG IRW e-Delivery Tool, the RO Toolkit, and the QI Toolkit.
Subscription Alert Services
IRW regulations and forms are constantly evolving and subject to changing interpretation. Our professionals closely monitor these areas and provide timely information that keeps subscribers abreast of changes and developments happening at the state, national, and international levels through three subscription-based services.
IRW regulations and forms are constantly evolving and subject to changing interpretation. Our professionals closely monitor these areas and provide timely information that keeps subscribers abreast of changes and developments happening at the state, national, and international levels through three subscription-based services.
Learn more about our subscription alert services
KPMG IRP Alert
Focuses on U.S. federal IRW-related technical tax issues and compliance initiatives. Subscribers receive news alerts periodically via email with updates on Internal Revenue Service IRW developments, such as new regulations, notices, and rulings, as well as changes to forms and filing requirements. These alerts also consider the practicalities of implementation and the potential business impact on companies.
Download PDFKPMG State IRP Alert
Provides subscribers with timely and valuable state IRW data and insights. Subscribers have access to tables covering a wide range of state IRW information related to financial products, securities, retirement plans and IRAs, federal Forms 1099-A, 1099-C, and 1099-K, and more. Subscribers also receive weekly updates on related developments.
Download PDFKPMG AEOI Updates & Tracking Service
Helps subscribers keep up to date with changes to FATCA and the OECD’s CRS across more than 30 countries. Subscribers select the jurisdictions they want to track and receive tailored ongoing alerts, monthly summaries of alerts, and a monthly Excel grid of updates and regime status.
Download PDFIRW & AEOI Subscription Services: Three-Month Free Trial
Sign up to receive the subscription of your choice
Sign Up
What makes us different?
Failure to comply with IRW regulations and forms, which are constantly evolving and subject to interpretation, can be costly. Our wide range of IRW Tax Services, supported by an array of KPMG resources, is designed to help you comply with confidence.
Deep team experience
Deep team experience
Our experienced IRW professionals include individuals who have worked in industry or at U.S. Treasury, the IRS, and the OECD, some of whom were actively involved in the development of IRW regimes. The team also includes licensed tax specialists, CPAs, IRS enrolled agents, software developers, and former technology leads.
Technology
Technology
Our knowledge of tax regulations, processes, operational procedures, and account and payment systems can help you put the right technology and tools—from both technology vendors and proprietary KPMG tools and enablers—in place to manage the complexities of IRW requirements compliance.
Global member firm network
Global member firm network
By actively working with IRW professionals in KPMG International member firms around the world, we can advise you on the application of local-country rules and procedures, while helping you implement a consistent global approach.
Washington National Tax
Washington National Tax
Washington National Tax, the technical core of the KPMG Tax practice, serves as a premier resource for clients and KPMG professionals in resolving complex tax issues.
Learn more
Deep team experienceTechnology Global member firm network Washington National Tax
Explore more insights
Popular category topics
Insight
Webcast ReplayWebcast Upcoming
Tax IRW Ops Quick Tips & Updates
Read our January article to learn about the possible FATCA impact caused by changes to the income tax treaty between the US and Hungary and US and Chile.
Insight
Webcast ReplayWebcast Upcoming
IRW Coffee Break
Listen to KPMG IRW Coffee Break, a KPMGTaxRadio podcast series, to get the latest insights on IRW developments, compliance reminders, and compliance issues brought to you by Information Reporting & Withholding Tax professionals from KPMG Washington National Tax.
Insight
Webcast ReplayWebcast Upcoming
September 18, 2023 | Proposed regulations expand tax information reporting for digital asset transactions
This webcast examines the long-awaited proposed regulations on digital asset tax information requirements that were released by the U.S. Treasury and IRS on August 25, 2023.
Subscribe to KPMG Information Reporting & Withholding Tax Services Insights
Sign up to learn about the latest IRW insights
Subscribe
Explore other services tailored to your business
Service
Accounting methods & credits
Read more
Industry
Financial Services
Read more
Service
Ignition tax
Read more
As a seasoned expert in tax capabilities and services, particularly in the realm of Information Reporting & Withholding (IRW), I bring forth a wealth of knowledge and practical experience to shed light on the intricacies of tax accounting compliance and reporting. My expertise is firmly grounded in navigating the complexities of both U.S. and foreign withholding and information reporting regimes, and I can demonstrate a deep understanding of the various components mentioned in the provided article.
Let's delve into the key concepts and services outlined in the article:
-
Tax Services and Compliance:
- The article emphasizes the importance of complying with U.S. and foreign information reporting and withholding (IRW) obligations accurately and on time.
- It highlights the need to reduce the risk of penalties associated with improper, delayed, or noncompliant IRW processes.
-
IRW Challenges and Compliance:
- The article stresses the significance of staying abreast of detailed and ever-evolving due diligence, withholding, and reporting requirements.
- It mentions the KPMG Information Reporting & Withholding Tax Services practice, which offers consulting services and technology solutions to navigate U.S. and non-U.S. regimes.
-
Relevant Tax Codes and Regulations:
- The article mentions expertise in Internal Revenue Code Chapters 3, 4, and 61, which pertain to various aspects of tax withholding and reporting.
- It also addresses compliance with the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS).
-
Forms and Compliance Matters:
- The KPMG IRW team assists with filing and compliance matters related to Forms 1042-S, 1099, 8966, W-8, W-9, and 8233.
- Support is provided for complying with cost-basis reporting, IRC sections 871(m) and 1446(f), FBAR filings, and crypto/digital assets.
-
Advisory and Consulting Services:
- KPMG offers advisory and consulting services to address U.S. and global IRW issues, providing recommendations in vendor evaluations, target operating model development, and building compliance processes.
-
Audit and Health Checks:
- The article highlights the stress of IRS audits and mentions health checks to mitigate audit risks, covering various compliance aspects, including FATCA and qualified intermediary compliance.
-
Managed Services and Technology Support:
- KPMG IRW On Demand offers managed services support for customized and compliant processes, enablers, and strategic automation.
- Tech-smart IRW professionals collaborate with KPMG Ignition to customize systems logic and proprietary software.
-
Tools and Technology Solutions:
- KPMG IRW Tax Services includes a range of technology solutions such as the KPMG IRW e-Delivery Tool, the RO Toolkit, and the QI Toolkit.
-
Subscription Alert Services:
- The article introduces subscription-based services to keep subscribers informed about changes and developments in IRW regulations at state, national, and international levels.
-
KPMG IRP Alert and Other Subscription Services:
- Specific subscription services like KPMG IRP Alert, KPMG State IRP Alert, and AEOI Updates & Tracking Service are highlighted, each focusing on different aspects of IRW.
In conclusion, my expertise allows me to recognize the intricate details of tax accounting compliance and reporting, as outlined in the article. Whether addressing regulatory changes, providing advisory services, or implementing technology solutions, I possess the knowledge needed to navigate the complex landscape of Information Reporting & Withholding.