Final FATCA Rules Expected Soon as IRS Works on E-Information Sharing

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More guidance on the Foreign Account Tax Compliance Act is expected to be issued in the near future, says Steven Musher, IRS associate chief counsel (international). Speaking at the same global tax forum, sponsored by GWU and IRS, Deputy Commissioner (International) Michael Danilack says IRS is working on the technology challenges posed by information sharing with other countries under the 2010 law. IRS will continue a range of intensive efforts to crack down on international tax evasion as it works to implement FATCA, Miller says at the forum. Miller says even with successful implementation of FATCA, taxpayers will see “continued aggressive enforcement” against those trying to evade U.S. taxes, including unilateral, bilateral, and multilateral efforts.

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