The IRS released a new Form W-9 in December 2011.

Forms and information for the waiver of the external audit requirement for audit year 2011 are available in our QI Audit Waiver section.

The QI Solutions' 2011 QI Reporting Pack is now available and contains a complete collection of forms needed to complete the QI reporting for income paid in 2011 together in one file. The 2011 QI Reporting Pack includes:

• Form 1042, 1042-S and 1042-T
• Form 7004 (extension to file Form 1042)
• Form 8809 (extension to file Form 1042-S and 1099)
• IRS Publication 515 - Guide for withholding of tax on nonresidents (2011)

2011 QI Pack (2.01 MB) Download

According to remarks by IRS Commissioner Douglas H. Shulman, draft regulations concerning the implementation of the FATCA will not be released until 2012. IRS Notice 2011-53, published in August 2011, stated that draft FATCA regulations would be published by the end of 2011.

Although no specific release date was indicated, Commissioner Shulman did state that the draft FATCA regulations would be released "soon after the new year." The apparent reason for the delay was to address industry concerns relating to potential conflict between FATCA and foreign laws as well as the difficulties regarding passthru payments (e.g., ' payments attributable to' withholdable payments).

Commissioner Shulman's remarks were made in Washington, DC, on December 15, 2011, at an address before the 24th Annual Institute on Current Issues in International Taxation held by the IRS and George Washington University. Full text of Commissioner Shulman's comments can be found on the IRS web site.