{"id":453752,"date":"2021-03-09T09:03:17","date_gmt":"2021-03-09T14:03:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453752"},"modified":"2021-03-09T09:03:17","modified_gmt":"2021-03-09T14:03:17","slug":"wolters-kluwer-launches-capital-changes-1446f-ptp-alert","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wolters-kluwer-launches-capital-changes-1446f-ptp-alert\/","title":{"rendered":"Wolters Kluwer Launches Capital Changes 1446F PTP Alert"},"content":{"rendered":"

<\/p>\n

Wolters Kluwer Launches Capital Changes 1446F PTP Alert<\/b><\/p>\n

Automation relieves burden of finding, analyzing qualified notices for publicly traded partnerships <\/i><\/p>\n

MINNEAPOLIS–(BUSINESS WIRE<\/a>)–
\nTo assist brokers in complying with new Internal Revenue Service regulations that go into effect January 1, 2022, Wolters Kluwer Compliance Solutions<\/a> has launched Capital Changes 1446F PTP Alert<\/a>, a technology that eases broker withholding compliance burdens by automating the collection and review of qualified notices issued by publicly traded partnerships (PTPs). Under the new regulations, qualified notices must be evaluated in connection with determining a broker\u2019s withholding obligations.\n<\/p>\n

\nNew regulations issued under Internal Revenue Code Section 1446(f) expand and change earlier rules relating to qualified notices. The new regulations expand the scope of earlier rules applicable to withholding agents and their obligation to analyze qualified notices. Brokers must constantly monitor for qualified notices as they are published for PTPs in order to comply with the new regulations. Reviewing qualified notices can also be challenging because they do not have a standard format, nor are they stored in a central, online location.\n<\/p>\n

\nFinal regulations issued in October 2020 require brokers to withhold 10 percent of proceeds received on certain PTP sales and distributions that occur on or after January 1, 2022, unless an exception applies. Capital Changes 1446F PTP Alert addresses a critical challenge for brokers in complying with the new regulations: the ongoing task of monitoring, identifying and analyzing of PTP distributions and associated qualified notices.\n<\/p>\n

\n\u201cThis technology provides advance notification of critical information needed by brokers to comply with this new withholding requirement, allowing brokers to shift the burden of finding and analyzing qualified notices from themselves to Wolters Kluwer tax experts,\u201d said Steven Meirink<\/a>, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. \u201cCapital Changes 1446F PTP Alert provides key information in a compliance-focused, tax operations format that allows for easy searching, sorting, and exporting of data, helping brokers minimize risk and maximize efficiency.\u201d\n<\/p>\n

Wolters Kluwer Compliance Solutions<\/a> is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer\u2019s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.\n<\/p>\n

\nWolters Kluwer GRC provides an array of expert solutions for legal and banking professionals to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, and increase efficiency. These solutions include customized offerings to address Covid-19 challenges. Wolters Kluwer Compliance Solutions\u2019 Paycheck Protection Program Supported by TSoftPlus\u2122<\/a>, for example, helps U.S. lenders\u2019 small business customers access critical stimulus funding. Wolters Kluwer CT Corporation, meanwhile, has launched a Covid-19 resource center<\/a> to provide businesses and law firms with international, federal and state legislative updates. Other expert solutions include Wolters Kluwer Lien Solutions\u2019 UCC Manage<\/a>, which enables lenders to manage and address risks in their entire Uniform Commercial Code lien portfolio with analytics, visibility and automation.\n<\/p>\n

About Wolters Kluwer Governance, Risk & Compliance <\/b><\/p>\n

\nGovernance, Risk & Compliance is a division of Wolters Kluwer<\/a>, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.\n<\/p>\n

\nWolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of \u20ac4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210309005057\/en\/<\/a><\/span><\/p>\n

\nPaul Lyon
\n
Global Corporate Communications Director
\n
Governance, Risk & Compliance Division
\n
Wolters Kluwer
\n
Office +44 20 3197 6586
\n
Paul.Lyon@wolterskluwer.com<\/a><\/p>\n

\nDavid Feider
\n
Corporate Communications Manager, Banking & Regulatory Compliance
\n
Governance, Risk & Compliance Division
\n
Wolters Kluwer
\n
Tel: +1 612-852-7966
\n
David.Feider@wolterskluwer.com<\/a><\/p>\n

KEYWORDS:<\/b> Minnesota United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Data Management Technology Software Consulting Banking<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Wolters Kluwer Launches Capital Changes 1446F PTP Alert Automation relieves burden of finding, analyzing qualified notices for publicly traded partnerships MINNEAPOLIS–(BUSINESS WIRE)– To assist brokers in complying with new Internal Revenue Service regulations that go into effect January 1, 2022, Wolters Kluwer Compliance Solutions has launched Capital Changes 1446F PTP Alert, a technology that eases broker withholding compliance burdens by automating the collection and review of qualified notices issued by publicly traded partnerships (PTPs). Under the new regulations, qualified notices must be evaluated in connection with determining a broker\u2019s withholding obligations. New regulations issued under Internal Revenue Code Section 1446(f) expand and change earlier rules relating to qualified notices. The new regulations expand the scope of earlier rules applicable to … <\/p>\n

Continue reading “Wolters Kluwer Launches Capital Changes 1446F PTP Alert”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-453752","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nWolters Kluwer Launches Capital Changes 1446F PTP Alert - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wolters-kluwer-launches-capital-changes-1446f-ptp-alert\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wolters Kluwer Launches Capital Changes 1446F PTP Alert - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Wolters Kluwer Launches Capital Changes 1446F PTP Alert Automation relieves burden of finding, analyzing qualified notices for publicly traded partnerships MINNEAPOLIS–(BUSINESS WIRE)– To assist brokers in complying with new Internal Revenue Service regulations that go into effect January 1, 2022, Wolters Kluwer Compliance Solutions has launched Capital Changes 1446F PTP Alert, a technology that eases broker withholding compliance burdens by automating the collection and review of qualified notices issued by publicly traded partnerships (PTPs). Under the new regulations, qualified notices must be evaluated in connection with determining a broker\u2019s withholding obligations. New regulations issued under Internal Revenue Code Section 1446(f) expand and change earlier rules relating to qualified notices. 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