Daily Tax Update - March 31, 2017: Department of the Treasury Releases Boycott List

Department of the Treasury Releases Boycott List:  The Department of the Treasury has released the current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of Section 999(b)(3)).  The list, unchanged from the last published list, consists of Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, United Arab Emirates, and Yemen.

IRS Extends Deadline for Renewing Qualified Intermediary Agreements:  Today, the IRS announced that it was extending the deadline for submitting renewal requests for qualified intermediary, foreign withholding partnership, and foreign withholding trust agreements from March 31, 2017 to May 31, 2017.  The IRS will grant an effective date of January 1, 2017 for renewals properly submitted by this new deadline.