Phased-in Implementation of FATCA: IRS Contacts Provides Relief to Foreign Financial Institutions

Phased-in Implementation of FATCA: IRS Contacts Provides Relief to Foreign Financial Institutions

On July 14, 2011, the Internal Revenue Service (IRS) issued Notice 2011-53 (the Notice), which provides a revised timeline for the implementation of the withholding and reporting provisions of the Foreign Account Tax Compliance Act (FATCA). FATCA created a withholding and reporting regime that...

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