BDO Knows Financial Institutions & Specialty Finance Alert - July 2014

July 2014

Several agencies, including the FDIC, OCC, OTS and the Federal Reserve, recently issued an addendum to the Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure, which seeks to provide clarity around the relationship between banking organizations and their insured depository institutions when it comes to tax payments and income tax refunds. Read on about updates that must be incorporated into tax allocation agreements by October 31, 2014.