Information reporting and withholding

FATCA: key issues facing US withholding agents, in both the financial services and non-financial services sectors

Tax

March 07, 2013 17:00 GMT

March 07, 2013 18:30 GMT

Duration: 01:30

Audio broadcast live from: Washington, D.C.

Since enactment in 2010, companies of all types have wrestled with issues related to implementing the requirements imposed by FATCA within their structure and business practices.

Since the release of the final FATCA regulations in January of this year, much of the uncertainty has become clearer and entities can more effectively address some of the technical and procedural challenges FATCA creates.

FATCA impacts every company in different ways, yet there are many common issues that companies must address. Join us for a discussion of these issues and the impact of the regulations from the perspective of both US financial institutions and US non-financial services companies.

During this webcast we will discuss:

 

Panelists:

Debbie Pflieger

Ernst & Young LLP, Director of Information Reporting and Withholding Services

Debbie Pflieger is a member of Ernst & Young LLP's Banking & Capital Markets Sector practice and the leader of the information reporting and withholding group. Debbie advises clients on information reporting and withholding, assisting them in determining and complying with their many obligations in this area. Debbie focuses on both domestic reporting and withholding issues (Forms 1099 and backup withholding) and nonresident alien reporting and withholding issues (Forms 1042-S and Sec. 1441 withholding).

Debbie received a B.S. in Government from Georgetown University, a J.D. from Georgetown University Law Center and an LL.M. in Taxation from New York University. She was an adjunct professor at Georgetown University Law Center where she taught Federal Tax Practice and Procedure in the LL.M. program. Debbie is a popular speaker for external groups that focus on information reporting issues.

Justin O’Brien

Ernst & Young LLP, Information Reporting and Withholding Services

Justin O’Brien is a principal and is the member of Ernst & Young LLP’s Tax Withholding and Information Reporting team within its Financial Services Office. He works on both domestic reporting and withholding issues (Form 1099 and back-up withholding) and non-resident alien reporting and withholding issues (Forms 1042 section 1441 withholding), as well as qualified intermediary issues. Most recently Justin concentrates on assisting clients with FATCA impact assessment projects, having successfully completed projects at two large global securities firms and a US Depository.

Prior to joining Ernst & Young LLP, Justin held various positions in Corporate Tax and Operations in the private sector within the financial industry including Barclays, Lehman Brothers, JPMorgan and The Bank of New York, focusing on US withholding tax information reporting.

Justin is a former Member of SIFMA’s Withholding Tax Committee and a former Chairperson in the Clearing House Bank’s Withholding Tax Committee.

Dawn McGuire

Ernst & Young LLP, Information Reporting and Withholding Services

Dawn McGuire is a member of Ernst & Young LLP's Banking & Capital Markets Sector practice. Dawn advises financial services organizations and multinational corporations that face significant information reporting and withholding challenges regarding payments to clients, investors and vendors. She works on both domestic reporting and withholding issues (Forms 1099 and backup withholding) and nonresident alien reporting and withholding issues (Forms 1042-S and Sec. 1441 withholding). Dawn helps clients determine and comply with their many obligations in this area.

Prior to joining EY, Dawn was a manager at another major public accounting firm. There she worked in tax process improvement and on information reporting and tax withholding issues for large financial services clients.

Dawn received a B.A. from Wellesley College and a J.D., cum laude, from Suffolk University.

Todd Larsen

Ernst & Young LLP, Information Reporting and Withholding Services

Todd Larsen is a member of Ernst & Young LLP’s tax practice and works on tax information reporting and withholding services, as well as IRS practice, procedure and controversy. He advises financial service and non-financial service clients in all aspects of information reporting and withholding, especially on the Foreign Account Tax Compliance Act (“FATCA” or “Chapter 4 withholding”), non-resident alien reporting and withholding issues (i.e., Forms 1042-S and section 1441 withholding, or “Chapter 3 withholding”), domestic reporting and backup withholding issues (i.e., Forms 1099), Qualified Intermediary audits and requirements, and reporting and withholding compliance reviews and remediation.

Todd also advises clients with regard to withholding foreign partnerships and withholding foreign trusts, FIRPTA requirements (IRC section 1445) and withholding on partner’s share of effectively connected income (IRC section 1446).

Doug Sawyer

Ernst & Young LLP, Information Reporting and Withholding Services

Doug Sawyer is a Senior Manager with Ernst & Young LLP's Tax Information Reporting and Withholding team within the Financial Services Office. He is responsible for US domestic reporting and withholding issues, non-resident alien reporting and withholding issues and qualified intermediary issue, and FATCA. Prior to joining Ernst & Young LLP, Doug was a Director in Citigroup's Corporate Tax Department where he served as co-head of the ICG US Information Reporting and Withholding Tax team.

Doug is a former member of the IRS' Information Reporting Program Advisory Committee and Securities Industry Association's (now SIFMA) Withholding Tax Committee.

Moderator:

John McMahon

EY, Americas Director of Information Reporting and Withholding Services

John McMahon is EY's Americas Director of Information Reporting and Withholding Services. During his 23-year career, John has served in several capacities in both industry and public accounting. Since joining Ernst & Young LLP in 1999, John has focused on providing advisory services related to tax accounting methods, capitalization and recovery, and tax accounting services (FAS 109). John has worked in a variety of industries, with a particular focus in the manufacturing and consumer products sectors and financial services.

John received a B.S. B.A. in accounting from Creighton University. He also has taken graduate course work in taxation and law from the University of Nebraska and William Mitchell College of Law. John is a certified public accountant licensed in the state of Minnesota, and he is a member of the American Institute of Certified Public Accountants.