Access best-in-class, proven solutions to support your tax withholding and tax reporting
CTI Tax Solutions from IHS Markit provide tax withholding and reporting modules that allow correct withholding payments to be made to both US and non-US recipients and enable withholding agents to generate appropriate information returns for submissions to both the IRS and local tax authorities in Model 1 IGA jurisdictions.
- Ease of use – Generate reports without requiring subject matter expertise
- Deliver faster results – Real-time withholding determinations fed into payment systems
- Drive efficiency – Quickly exchange documentation characteristics across our solutions MD3®, Digital W-8, E-W8TM, or IPSTM to the Withholding module
- Increase reliability - Identify TIN requirements for reduced rates on certain income type and minimize risk of erroneous submissions by rejecting information that does not fit into the IRS e-filing schema. Identify when imported information does not fit into a common or expected reporting format, such as mismatched income and exemption codes or recipient codes
- Support reporting requirements - Along with a tax rate, access the appropriate reporting codes for Forms 1042-S, where required, including income codes, recipient codes, exemption codes (Chapter 3 and Chapter 4), and country codes