Tag: IRS

Financial institutions have long struggled with the cumbersome process of managing tax certification documents, particularly the W-8IMY form used for non-U.S. intermediaries. This extensive...

As financial institutions gear up for the 2025 tax reporting season, the regulatory landscape is undergoing significant transformation. The Internal Revenue Service (IRS) has...

Tax evasion remains one of the most costly crimes in the global financial system, depriving governments of an estimated half a trillion dollars every...

In today’s financial markets, the asset management ecosystem has become more connected and interdependent than ever before. According to TAINA Technology, asset managers, fund administrators,...

Policies and procedures are often underestimated, yet they are critical for building an audit-ready tax compliance programme.

In the ever-shifting landscape of tax compliance, timing can be the deciding factor between seamless operations and regulatory headaches. A crucial, yet often overlooked aspect of this timing is the IRS sunset period—the window of time given to transition from an old version of a tax form to its updated counterpart.

Banks in the US will benefit from greater flexibility in collecting Taxpayer Identification Numbers (TINs) under new Customer Identification Program (CIP) rules from FinCEN, the OCC and the FDIC.

Tax compliance is a complex area where one mistake can mean penalties and customer frustration. FinTechs are now using AI and enhanced OCR to make tax document collection seamless, helping meet regulatory requirements without creating friction for customers.

A significant U.S. tax reform proposal—nicknamed the “One Big Beautiful Bill”—has cleared the House of Representatives and is now under review by the Senate. While the bill is not yet law, it introduces a series of changes that could have a substantial impact on how international businesses manage information reporting, tax withholding, and jurisdictional compliance.

As global tax regulations tighten, prime brokers are under increasing pressure to weave tax compliance into every stage of the client lifecycle. According to TAINA...