A withholding agent or qualified intermediary is fully liable for all taxes owed by a foreign beneficial owner and also reports the income paid to each recipient on a Form 1042-S.
What does QI stand for?
QI stands for Qualified Intermediary
This definition appears very frequently and is found in the following Acronym Finder categories:
- Military and Government
- Business, finance, etc.
See other definitions of QI
We have 5 other meanings of QI in our Acronym Attic
- Quantitative High-Throughput Screening (genomics)
- Queensburgh Hindu Temple Society (Durban, South Africa)
- Queensland Homicide Victims Support Group (Australia)
- Quick Hide Windows
- Quartz Hill Water District (Quartz Hill, CA)
- Quality Housing and Work Responsibility Act of 1998
- Quick Hurricane Web Resource Navigator (Caribbean Hurricane Network)
- Postal Insurance (Scott Catalogue prefix; philately)
- Quadruple Integral
- Qualified Individual
Samples in periodicals archive:
In addition, the taxpayer must assign the interest in the original property to a qualified intermediary before the closing of the sale.
The like-kind exchange process requires the participation of a Qualified Intermediary and an escrow agent.
has formed a new qualified intermediary corporation and licensed the exclusive use of the brand name "CB Richard Ellis 1031 Exchange Services" to provide qualified intermediary services to CB Richard Ellis' investment property and corporate clients who want to structure their real estate and property sales as tax deferred exchanges as provided for under Section 1031 of the Internal Revenue Code of 1986, as amended.
NEW YORK -- Deutsche Bank today announced it has been appointed as Qualified Intermediary (QI) on Toyota Motor Credit Corporation's like-kind exchange program.
Payments Through Qualified Intermediaries A qualified intermediary (QI) is a foreign financial intermediary (or foreign branch of a U.
He takes the proceeds of the sale and deposits them with a Qualified Intermediary who eventually acquires Property B on behalf of Mr.
1031 (f) related-party rules by using a qualified intermediary (QI).