How do foreign entities e-file 1042-S and 1099 forms after FIRE is retired? Through the new IRS Foreign Filer TCC Registration System. It gives foreign filers whose authorized users have no U.S. SSN or ITIN a way to obtain a Transmitter Control Code and transmit information returns electronically through IDES. The way U.S. information returns…
What were the key international tax developments in early-to-mid June 2026? The OECD pushed forward on the global minimum tax (Pillar Two) — releasing practical fixes to the GloBE Information Return (GIR) XML schema for first filings, an updated 2026 consolidated commentary, and new transfer-pricing guidance on intragroup services. In the EU, the Court of…
How is income from the 2026 FIFA World Cup taxed across the U.S., Canada, and Mexico? The 2026 FIFA World Cup is co-hosted by three countries, which raises a thorny question: when a national team earns prize money and other compensation, how is that income sourced among the United States, Canada, and Mexico? To avoid…
What is the foreign earned income exclusion relief under Rev. Proc. 2026-16? The IRS waives the section 911 residency and presence tests for 2025 for qualified individuals who had to leave seven specified countries due to war, civil unrest, or similar adverse conditions. If you’re a US citizen or resident who was living abroad and…
