On this edition, Ivan Mitev of Boies, Schiller & Flexner, LLP and Richard Kando of Navigant Consulting, Inc. discuss principles governing the Foreign Account Tax Compliance Act (FATCA) and the law's application to investment funds. They examine withholdable payments and pass-through payments, explain the nature of compliance with this law and the severe penalties that apply for non-compliance. They describe what institutions and funds may or may not be subject to the law, as well as the mechanics of compliance. Copyright© 2011 LexisNexis, a division of Reed Elsevier Inc. Visit www.lexisnexis.com/community/taxlaw.
RELATED LINKS: For further discussion of the the Foreign Account Tax Compliance Act, see:
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