The Internal Revenue Service’s Taxpayer Advocate Service, an independent advocacy office within the agency, says some reporting requirements for expatriate Americans are duplicative and unnecessary.

In February 2012, the Internal Revenue Service issued proposed regulations regarding the implementation of the Foreign Account Tax Compliance Act (FATCA), a statute that was included in the Hiring ...

After a yearlong investigation, the US Senate Finance Committee probed into a FATCA Loophole and delivered an investigative report titled “The Shell Bank Loophole” that exposes a tax evasion scheme ...

On 12/30/22, the IRS issued Notice 2023-11 with the purpose of providing FATCA reporting relief to Model 1 FFIs who have been unable to obtain US TINs for their pre-existing accounts that are US ...

With the Foreign Account Tax Compliance Act (FATCA) coming into force on the 1 July, Multifonds has released its fully compliant module to help firms and clients meet reporting requirements. The main ...

TMF Custom House Global Fund Services is offering a new Foreign Account Tax Compliance Act (FATCA) solution. The solution offers fund clients a solution to FATCA, after IRS registration deadlines. It ...

Just in time for the Foreign Account Tax Compliance Act (FATCA), which goes into effect July 1, the IRS announced changes to its streamlined filing compliance procedures and its Offshore Voluntary ...

When Congress passed the Foreign Account Tax Compliance Act (FATCA) (as part of the Hiring Incentives to Restore Employment Act, P.L. 111-147) in 2010, the Joint Committee on Taxation estimated it ...

Forbes contributors publish independent expert analyses and insights. Nana Ama Sarfo covers current international tax news and transparency. Offshore tax evasion is weighing heavily on the minds of ...

Despite spending more than $8.6 million so far, with another $8 million projected to be spent on developing the online portal for handling the registration of foreign financial institutions for the ...

Management and technology consultancy BearingPoint was selected by Société Générale Group, one of Europe’s largest financial services groups, to provide a solution to the new tax reporting ...