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Foreign Account Tax Compliance Act Update

The U.S. initiative in combating tax evasion and improving global compliance has become a worldwide initiative, since it is viewed as a win-win for most countries.

Online FATCA Registration System Launched

The IRS on Monday announced the launch of an online system that foreign financial institutions can use to register with the agency to meet their obligations under FATCA.

IRS Issues Draft FATCA Report Form

The IRS released a draft Form 8966, FATCA Report, which will be used by foreign financial institutions and withholding agents to comply with their FATCA reporting and withholding requirements.

FATCA Final Regulations Issued

The IRS issued final regulations providing rules on information reporting by foreign financial institutions (FFIs) and withholding on certain payments to FFIs and other foreign entities.

FATCA Final Regulations Cover All the Bases

The IRS issued final regulations providing rules on information reporting by foreign financial institutions (FFIs) and withholding on certain payments to FFIs and other foreign entities.

FATCA Prop. Regs. Amended to Extend Various Deadlines

The IRS is delaying various FATCA-related deadlines because it has received feedback that complying with the original deadlines and other requirements is proving to be impractical for some taxpayers.

New Foreign Asset Reporting Rules

Practitioners need to be aware of the new requirements for reporting foreign assets and income and confirm that clients are complying.