Coping with QI burden: Part II

More than 6 months have passed since Revenue Procedure 2000-12 was issued and there is less than 2 months to go before the New Regulations take effect. This article analyzes the impact of the New Regulations and the practical aspects of entering into a QI Agreement with the IRS. It is believed that...

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Veröffentlicht in:	International tax review 2000-11, Vol.11 (10), p.38
Hauptverfasser:	Michaels, Marnin, Balaban, David, Connors, Peter, Marcovici, Philip, O'Donnell, Thomas
Format:	Magazinearticle
Sprache:	eng
Schlagworte:	Agreements Banks Confidentiality Deeds Disclosure Documentation Effects Fines & penalties Grantor trusts Rev. Proc. 2000-12 Revenue procedures & rulings Tax regulations Trusts Withholding taxes
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Beschreibung
Zusammenfassung:	More than 6 months have passed since Revenue Procedure 2000-12 was issued and there is less than 2 months to go before the New Regulations take effect. This article analyzes the impact of the New Regulations and the practical aspects of entering into a QI Agreement with the IRS. It is believed that where a QI develops appropriate procedures and policies, its obligations can be managed and, importantly, the QI will be in a position to maintain confidentiality for most of its clients.
ISSN:	0958-7594