The IRS published extensive 544-page final regulations on Foreign Account Tax Compliance Act (FATCA), finalizing the 2012 proposed regulations. The final regulations address detailed taxpayer comments on the need to reduce FATCA administrative burdens and address technical implementation. The regulations are effective January 28, 2013. For an overview of the final regulations see the IRS… Continue Reading
Category Archives: FATCA
Subscribe to FATCA RSS FeedNew Proposed FATCA Regulations Try to Ease Compliance Burden
Posted in FATCA, General, International, ProcedureNew proposed regulations under the Foreign Account Tax Compliance Act (FATCA) implement FATCA’s obligations in stages to minimize burdens on foreign financial institutions (FFIs), and to allow time for resolving local law limitations to which some FFIs may be subject. The IRS press release notes that the 388-page proposed regulations will: Permit FFIs in many… Continue Reading
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