FATCA Adds Layer of Complexity, Penalty Exposure to Offshore Asset Reporting
This item highlights the provisions of FATCA that are most likely to affect U.S. tax practitioners and their clients—the taxpayer reporting provisions of new Sec. 6038D
Published on March 18, 2013
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
Published on December 31, 2012
FATCAs Withholding Requirements for Foreign Financial Institutions
FATCA imposes rigid new account identification, reporting, and tax withholding requirements on foreign financial institutions and other withholding agents
Published on May 31, 2012
FATCA Should U.S. Financial Institutions Be Concerned
The Foreign Account Tax Compliance Act requires foreign financial institutions to identify U.S. account holders and reveal details about their accounts to the IRS.
Published on October 05, 2010
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.
Published on April 01, 2013
FATCA Prop. Regs.
The IRS on issued proposed regulations providing rules on information reporting by foreign financial institutions (FFIs) and withholding on certain payments to FFIs and other foreign entities.
Published on March 31, 2012
Treasury Releases FATCA Model Intergovernmental Agreement
On July 26, the Treasury Department released its long-awaited model intergovernmental agreement to improve tax compliance and to implement FATCA
Published on October 31, 2012
Switzerland Agrees to FATCA Reporting Rules
The Treasury Department announced that the United States and Switzerland have signed a bilateral agreement to implement provisions of FATCA
Published on April 30, 2013
Model Intergovernmental FATCA Agreements Released Draft Form Posted
The Treasury Department released a model intergovernmental agreement designed to implement the information-reporting and withholding-tax provisions of FATCA
Published on September 30, 2012
IRS Will Phase in Implementation of FATCA Requirements
The IRS announced plans to phase in the requirements of the Foreign Account Tax Compliance Act (FATCA) because of numerous comments it has received about the difficulty of implementing the requirements
Published on August 31, 2011
Scope of Foreign Trust Provisions in the HIRE Act
This article analyzes the foreign trust provisions of the HIRE Act and offers some practical guidance for practitioners to consider in their development of best practice procedures.
Published on January 28, 2011
The HIRE Act of 2010
In March 2010, Congress enacted the Hiring Incentives to Restore Employment Act, which includes provisions to encourage employers to hire new employees and to make new capital investments. This article discusses these new incentives, as well as the revenue-raising provisions included in the act to offset their cost.
Published on January 28, 2011
AICPA News Update - November 9, 2012
In this issue: New Opportunities Related to SOC Engagements; AICPA Issues Comment Letter on FATCA Valuation Issues; Hurricane Sandy Web Page – Available Resources for the Profession; Free Webinar with CPE Credit Offered on Proposed Financial Reporting Framework for Smaller Enterprises; New Report Discusses Need...
Published on November 09, 2012
New Reporting for Specified Foreign Financial Assets
Effective for tax years starting after March 18, 2010, new Sec. 6038D requires individual taxpayers to report any interest in “specified foreign financial assets” if the value of these assets in aggregate exceeds an applicable threshold amount.
Published on August 24, 2012
The Tax Adviser June 2012
Articles Section 530 Relief for Worker Classification Controversies Claire Nash A Road Map of Tax Consequences of Modifying Debt How
Published on July 01, 2012