Preparing for Information Reporting & Tax Withholding Season
How can Financial Institutions Prepare for Information Reporting & Withholding Season?
Christmas holidays for most of us in the Information Reporting and Withholding (IRW) field marks the start of the reporting season.
In preparation for putting together the many files required for reporting season, financial institutions with the time and resources should have already processed test files with the various regulators' portals and file format updates or reached out to their vendors to confirm any data validations and data mapping changes.
Download and read this informative and thought-provoking whitepaper composed by TAINA’s thought-leader Rasheed Khan on summarising the identified Information Reporting and Withholding changes that all Financial Institutions should be aware of.
In this whitepaper you can expect to find more about the the summarised changes around Publication 1220 and Publication 1187.