Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. This article is more than 9 years old. Some offshore account ...
On July 1, the Foreign Account Tax Compliance Act (FATCA) will fully take effect. FATCA is supposed to reduce tax evasion by making it harder for tax cheats to abuse tax havens. In practice, however, ...
This article was published in the March 2014 issue of Middle Market Growth, a publication of the Association of Corporate Growth. It is reprinted here with permission. FATCA is the new form of 30% U.S ...
It’s cute to see movie portrayals of clumsy but good-natured Americans not fitting into some über sophisticated situation. But hearing big banks say thanks but no thanks to opening a checking, savings ...
New laws governing the global Automatic Exchange of Information – currently being implemented as the OECD Common Reporting Standard (OECD CRS) – among major nations will place a greater compliance ...
In past columns, I tracked the progress of the Foreign Account Tax Compliance Act (Fatca) regulation from when US regulators first set out on their effort to collect withholding tax from foreign ...
Critics fear that Fatca will result in FFIs refusing to offer services to US customers, and in business opportunities being withheld from US investors. In any event, one wonders whether the global ...
Recent efforts of the U.S. government to recapture tax dollars hidden in offshore investment accounts have captured the full attention of leading banks and investment firms overseas.U.S. investment ...
On March 19, 2018, IRS released “Draft FATCA Certification Questions” (https://www.irs.gov/businesses/corporations/draft-fatca-certifications) to be completed by ...
A new U.S. tax rule known as Fatca, the Foreign Account Tax Compliance Act, is going into effect. Beginning this past Monday, more than 77,000 banks and other financial firms around the world started ...
The Internal Revenue Service has opened its new online registration system for financial institutions that need to register with the IRS under the Foreign Account Tax Compliance Act. Financial ...
The Treasury Department and the Internal Revenue Service have issued a long-awaited set of final regulations implementing the information reporting and withholding tax provisions of the Foreign ...
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