Are You Certifying Your Payees?
U.S. organizations that issue payments of U.S. source income to U.S. or foreign payees are required to solicit and obtain valid certification of the payee’s TIN, name,…
OFAC-Issued Guidance: A Sanctions Compliance Framework
If you are mystified by your company’s compliance responsibilities related to sanctions, there is help. In 2019 the Department of Treasury’s Office of Foreign Assets…
The Risk of Non-Compliance in Vendor Payments Reporting
Are you a gambler? Do you look forward to a conference in Las Vegas so you can get in a little action? How about when…
Verifying Vendor TINs – The IRS TIN Matching Program
Want to save time, work and potential penalties? First, get your vendors’ tax ID numbers (TINs) and tax classifications upfront. Then validate those TINs. Way…
An OFAC Case Study
On November 25, 2019, Apple Inc. entered an agreement with the U.S. Department of Treasury to pay a civil penalty of $466,912. The fine is…
Are You OFAC Compliant? Or Do You Just Think You Are?
Threats to businesses abound, and given that accounts payable issues payments, it is a prime target for criminal perpetrators of all kinds. In addition to…
Avoiding the Men in Black – An OFAC Case Study
As she crossed the company parking lot early one morning, the director of shared services saw them. Men in black. Two of them. As she…
Video: IRS Form W-8 Expiration Date Tracker
You know W-8s expire, right? Here’s help tracking your foreign vendors’ W-8x forms’ expiration dates so you know when to collect updated forms and remain…