Year-end US information reporting changes

Year-end US information reporting obligations necessitate being aware of IRS changes and incorporating any new requirements into existing systems, processes, and procedures. The past year saw updates to Forms 1099 and 1042-S reporting requirements, revised IRS tax forms, and new and complex proposed guidance related to digital assets reporting.

How should you navigate these important updates and changes? What should you be aware of as you enter into the US information reporting season? What future changes should you start thinking about and preparing for now? Join Ernst & Young LLP professionals for answers to these questions and a practical discussion of how to manage your information reporting processes.

The following topics will be discussed:

• Updates to Form 1042-S
• Transmitter Control Code (TCC) updates
• Form 1042 electronic filing requirements
• Draft revisions to Forms W-8EXP and W-9
• Proposed regulations related to reporting on digital assets
• Form 1099-K reporting changes
• Leading reporting practices

Panelists

• Jonathan Jackel, Managing Director, Financial Services Organization, Tax, Ernst & Young LLP
• Saul Tilmann, Managing Director, Financial Services Organization, Tax, Ernst & Young LLP
• Colin Brien, Managing Director, Financial Services Organization, Tax, Ernst & Young LLP
• Ryan Blewitt, Managing Director, Financial Services Organization, Tax, Ernst & Young LLP

Moderator

• Tara Ferris, Principal, Ernst & Young LLP; EY Americas Information Reporting and Withholding Services Leader, Tax

EY webcast managed and produced by Ernst & Young LLP’s Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax