Danilack: Model FATCA Intergovernmental Agreement Could Be Done Soon

For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

A model agreement for government-to-government participation in the Foreign Account Tax Compliance Act (FATCA) could be completed “much sooner than the end of the summer,” IRS Deputy Commissioner Danilack says. “There's a great urgency to that. We have to get it done,” Danilack tells BNA following a panel discussion on FATCA at an Institute of International Bankers conference. During his panel appearance, the IRS official says the agency still is working hard to finalize the more than 400 pages of proposed rules (REG-121647-10) it unveiled in February.