The Internal Revenue Service (IRS) is expanding information reporting and withholding requirements, including an increased focus on U.S. source income for foreign persons — now a Tier 1 tax examination issue. How can technology support the increasingly complex compliance process? In this report, Deloitte discusses the evolving tax information and reporting landscape and reviews the current compliance environment and common compliance issues.
It also shares practical tips for addressing these issues and reviews processes and technologies that exist to help manage compliance. The report also includes responses to polling questions posed to executives during a Dbriefs webcast on how their organizations currently handle requirements when it comes to information reporting and areas of most interest to further use technology in the information reporting process.