Tax Compliance: Qualified Intermediary Program Provides Some Assurance That Taxes on Foreign Investors Are Withheld and Reported, but Can Be Improved
Description:
A letter report issued by the Government Accountability Office with an abstract that begins "U.S. source income flows to recipients offshore through foreign financial institutions and U.S. withholding agents. The Internal Revenue Service (IRS) established the Qualified Intermediary (QI) program to improve tax withholding and reporting on such income. QIs are foreign financial institutions that contract with IRS to withhold and report U.S. tax. GAO was asked to (1) describe program features, (2)…
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Date:
December 19, 2007
Creator:
United States. Government Accountability Office.
Item Type:
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Report
Partner:
UNT Libraries Government Documents Department