FATCA Rules Answer Many Questions, but Uncertainty Remains

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New rules on the Foreign Account Tax Compliance Act answer many questions for taxpayers but leave some concerns on the table, a Baker & Hostetler practitioner tells Bloomberg BNA. In a world where banks are moving billions of dollars around the globe daily, it is increasingly difficult to track and identify U.S.-owned accounts that are required to be reported under the new law, Jim Mastracchio says.