Management Company Tax Subcommittee Content

The 2022 Primary Layout and Instructions have been updated to account for the new "FATCA filing requirement" checkbox that has been assigned box number 11. Subsequently, Form 1099-DIV box numbers 11 through 15 have been renumbered 12 through 16, respectively.

A coalition of financial services industry organizations submitted the attached letter to the European Commission regarding a proposed withholding tax relief procedure. The letter, crafted by the ICI, summarizes several key observations and thoughts from coalition members that met in...

ICI submitted the attached letter to the Internal Revenue Service (IRS) with recommendations on how to utilize funds provided under the Inflation Reduction Act. The letter recognizes that this historic funding has the potential to transform and modernize taxpayer service capabilities...

Attached please find the agendas for the November 9-10 Tax Committee meetings; please register here. The meetings will be held in the conference center on the first floor of ICI's building at 1401 H Street, NW, Washington, DC 20005. Please note that these meetings will be held in...

​​​​​​​Registration for the November 9 and 10 Tax Committee meetings is now open. The meetings will be held in the conference center on the first floor of ICI's building at 1401 H Street, NW, Washington, DC 20005. Agendas will be circulated next week. Please note that this meeting...

The Internal Revenue Service has released annual cost of living and other adjustments applicable to dollar limitations for pension and retirement plans. The news release is available here and Notice 2022-55, which also contains the updated limits, is available here. Notably, the...

The Organisation for Economic Co-operation and Development (OECD) has released guidance regarding reporting and exchanging tax-related information on (1) crypto-asset transactions (under the Crypto-Asset Reporting Framework (CARF)) and (2) financial assets (under the updated Common...

On October 7, 2022, the Internal Revenue Service (IRS) released Notice 2022-53, providing limited interim guidance in advance of issuing final regulations on retirement plan required minimum distributions (RMDs) under Internal Revenue Code ("Code") section 401(a)(9).

The next monthly Tax Committee call will be held on Tuesday, October 11, 2022, at 11:00 a.m. ET.

[34302] October 3, 2022 TO: ICI Members 529 Plan Advisory Committee ABLE Act Working Group SUBJECTS: 529 Plans Tax RE: IRS Addresses Questions Regarding ABLE Accounts The Internal Revenue Service (IRS) has released an Information Letter which addresses several questions that had been...