IRS updates FATCA FAQ 23

On August 24, 2023, the Internal Revenue Service (IRS) updates question 23, from General Question section, extending penalty relief for the 2022, 2023, and 2024 calendar years in situations where a withholding agent withholds and reports on Forms 1042 and 1042-S by September 15 of the applicable year. The penalty relief will apply with respect to dividend equivalent payments made with respect to a derivative referencing a partnership.