FATCA Provisions in the HIRE Act (H.R. 2847)

New Reporting Requirements, Penalties for Foreign Financial Institutions, Account Holders H.R. 2847, the Hiring Incentives to Restore Employment (HIRE) Act, signed into law on March 18th, mandates 30 percent tax withholding on payments to foreign financial institutions (FFIs) that fail to comply with...

FATCA Provisions in the HIRE Act (H.R. 2847)

New Reporting Requirements, Penalties for Foreign Financial Institutions, Account Holders H.R. 2847, the Hiring Incentives to Restore Employment (HIRE) Act, signed into law on March 18th, mandates 30 percent tax withholding on payments to foreign financial institutions (FFIs) that fail to comply with...

HIRE Act Focuses on Disclosure and Reporting by Foreign Financial Institutions

H.R. 2847, the Hiring Incentives to Restore Employment Act (HIRE), was signed into law on March 18. This law contains provisions previously included in proposed legislation in the Foreign Account Tax Compliance Act of 2009 (H.R. 3933, S. 1934), known as FATCA. FATCA FATCA is intended to create...

HIRE Act Focuses on Disclosure and Reporting by Foreign Financial Institutions

H.R. 2847, the Hiring Incentives to Restore Employment Act (HIRE), was signed into law on March 18. This law contains provisions previously included in proposed legislation in the Foreign Account Tax Compliance Act of 2009 (H.R. 3933, S. 1934), known as FATCA. FATCA FATCA is intended to create transparency...