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Daily Tax Report: International

IRS Watchdog Questions Discrepancies in Foreign Tax Withholding

June 23, 2020, 9:56 PM

The IRS didn’t catch nearly $200 million in discrepancies between how much withholding tax for foreign persons was reported in 2017 versus how much was actually paid, according to a government watchdog.

The agency failed to identify nearly 2,000 withholding agents who reported amounts of tax withheld that differed from the amounts they remitted. The agents are individuals or entities charged with withholding and remitting tax to the IRS on behalf of foreign persons subject to U.S. tax.

The findings came from a June 17 report, released Tuesday, of 12 recommendations from the U.S. Treasury Inspector General...

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