Long-Awaited Draft FATCA Form Seen as More Complicated

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The eagerly awaited draft version of a form to be used by entities to report their withholding status under the Foreign Account Tax Compliance Act is more complicated than earlier versions but still has positive elements, practitioners told BNA May 22.
The Internal Revenue Service unveiled the new eight-page draft version of the Form W-8BEN-E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities), May 22.
One practitioner said it has a new section for disregarded entities that appears to indicate that some of these entities may have to do their own reporting and get their own identification numbers.

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