Caterpillar Inc., an American manufacturing icon, used a wholly owned Swiss affiliate to shift $8 billion in profits from the United States to Switzerland to take advantage of a special 4 to 6 percent corporate tax rate it negotiated with the Swiss government and defer or avoid paying $2.4 billion in U.S. taxes to date,…
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IRS Released Revised Form W-8BEN-E For Entities.
On Friday, March 14, 2014, we posted "IRS Revised FormW-8BEN For Individuals - What Form Do You Use For Entities?" Where we discussed that the Internal Revenue Service (IRS) had released revised IRS Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individuals)). The IRS Instructions for Form W-8BEN provided that Form…
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Are You A Credit Suisse Client? You May Want to Make Your Voluntary Disclosure NOW!
We previously posted on Monday, March 10, 2014, U.S.Client of Credit Suisse? Last Chance To File A Voluntary Disclosure! where we discussed that Thousands of Credit Suisse Group AG’s U.S. clients still don’t know whether tax authorities will learn their identities as prosecutors work to conclude a three year probe of how the bank helped…
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IRS Revised W-8BEN For Individuals – What Form Do You Use For Entities?
The Internal Revenue Service (IRS) has released revised IRS Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individuals)). The IRS has also released revised IRS Instructions for Form W-8BEN . Generally, certain foreign persons are required to provide IRS Form W-8BEN to their withholding agents or payors with regard to…
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