IRS Issues Preliminary Guidance on the Application of the Foreign Account Tax Compliance Act

IRS Issues Preliminary Guidance on the Application of the Foreign Account Tax Compliance Act

On August 27, 2010, the Internal Revenue Service (the IRS) issued Notice 2010-60 (the “Notice”) establishing the framework for forthcoming regulatory guidance implementing the withholding and reporting provisions of the Foreign Account Tax Compliance Act (“FATCA”). While a...

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