FATCA, Withholding & Information Reporting

Information reporting is the backbone of the U.S. tax system.  Miller & Chevalier's lawyers have decades of combined experience with the information reporting and withholding requirements of the Internal Revenue Code.  The team is nationally recognized for advising payors and other filers with all aspects of information reporting including non-employee compensation, payments to attorneys and doctors, interest and dividends, broker payments of gross proceeds, mortgage interest, third-party payment networks and payment cards, and the Affordable Care Act. 

Miller & Chevalier's lawyers also advise U.S. withholding agents and foreign financial institutions on the complicated rules applicable to the withholding and reporting of cross-border payments under Chapter 3 and the Foreign Account Tax Compliance Act (FATCA), including required reporting on Forms 1042, 1042-S, and 8966 and evaluating Forms W-8BEN, W-8BEN-E, and W-8IMY.  Miller & Chevalier’s lawyers are regarded as foremost authorities in guiding large multinationals through the complicated process of identifying the appropriate status of their foreign affiliates and foreign vendors under both Chapter 3 and Chapter 4.  They bring outstanding knowledge, experience, and a reputation for finding practical solutions to difficult problems.

In addition to our federal practice, Miller & Chevalier has a thorough understanding of state reporting and withholding requirements, including California non-resident withholding and other state withholding provisions.  They have advised companies on how to comply with these requirements, as well as how to correct prior mistakes, providing clarity in an environment marked by confusion and a lack of formal guidance from state authorities.