Carol Kassem worked professionally for 28 years in the financial services industry. Her lengthy career in banking encompassed responsibility for information reporting as well as corporate income tax and other accounting functions. Until 2005, she was a Vice President in the Information Reporting group of JPMorgan Chase Bank, NA. From 1999 until the merger of JPMorgan Chase with Bank One in 2004, she was Information Reporting Manager for Bank One Corporation and its affiliates. In this role, she was responsible for providing technical support and guidance relevant to information reporting for the general bank and other affiliated companies. This role also oversaw the development and implementation of policies and procedures instrumental to complying with appropriate Internal Revenue Service reporting requirements.
Prior to joining Bank One, she held tax positions with a predecessor bank that spanned a 20-year period. During that time, she provided support and supervision for the preparation and filing of federal and state tax returns as well as oversight for the information reporting process and other tax related functions.
In 2002, Carol was appointed to the Internal Revenue Service Information Reporting Program Advisory Committee (IRPAC) for a three-year tenure sponsored by the American Bankers Association. She also served as a member of the New York Clearing House Tax Withholding and Information Reporting Committee representing Bank One.
Since leaving the banking industry in 2005, she has been a consultant and frequent speaker at conferences relative to information reporting. She and her husband now reside in Asheville, NC.
B.S., Accounting, Louisiana State University (1978)
Bloomberg Tax Management Portfolios
The Portfolio, Reportable Payments and Transactions Not Subject to Backup Withholding , No. 644, discusses payments and transactions reportable on Forms 1098 and 1099 that are not
The Portfolio, Information Reporting to U.S. Persons — Payments Subject to Back-up Withholding, No. 643, discusses the requirements relative to backup withholding.