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...
Final rules on implementing the Foreign Account Tax Compliance Act could be issued by IRS as soon as this week, tax practitioners close to the regulators tell BNA. Enacted in 2010 as a means to stop tax evasion, FATCA requires foreign financial institutions to tell IRS about their U.S.-owned accounts. Banks that do not comply could be responsible for paying a 30 percent withholding tax on the accounts.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)