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...

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...

FATCA's Application to Investment Funds - LexisNexis® Podcast

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...

FATCA's Application to Investment Funds - LexisNexis® Podcast

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...

New Reporting Requirements for U.S. Owners and Grantors of Foreign Trusts

By Diane L. Mutolo, J.D., LL.M. * The Hiring Incentives to Restore Employment Act ("the HIRE Act"), signed into law by President Obama on March 18, 2010, amended and added provisions of the Internal Revenue Code with the aim of increasing foreign account tax compliance. The provisions of...

Reporting Obligations of U.S. Beneficiaries of Foreign Trusts and New Form 8938

In 2010, Congress enacted the Foreign Account Tax Compliance Act (FATCA) as part of the Hiring Incentives to Restore Employment Act ("the HIRE Act"), and the legislation amended the Internal Revenue Code with the goal of increasing foreign account tax reporting and compliance. [The Hiring Incentives...

U.K., U.S. Agree on Compliance, Information Reporting, Withholding Provisions (FATCA)

According to Treasury Department News Release TDNR TG-1711 (September 14, 2012), the United Kingdom and the United States have entered into an agreement to implement the information reporting and withholding tax provisions known as the Foreign Account Tax Compliance Act (FATCA) (enacted as part of the...

U.K., U.S. Agree on Compliance, Information Reporting, Withholding Provisions (FATCA)

According to Treasury Department News Release TDNR TG-1711 (September 14, 2012), the United Kingdom and the United States have entered into an agreement to implement the information reporting and withholding tax provisions known as the Foreign Account Tax Compliance Act (FATCA) (enacted as part of the...

Reporting Obligations of U.S. Beneficiaries of Foreign Trusts and New Form 8938

In 2010, Congress enacted the Foreign Account Tax Compliance Act (FATCA) as part of the Hiring Incentives to Restore Employment Act ("the HIRE Act"), and the legislation amended the Internal Revenue Code with the goal of increasing foreign account tax reporting and compliance. [The Hiring Incentives...

U.S. FATCA Information Reporting: Fishing for Forsaken Tax Revenues

* by Lawrence A. Kogan, Esq. FATCA's Objective The Foreign Account Tax Compliance Act ("FATCA"), which added new Chapter 4 to Subtitle A of the Internal Revenue Code (comprising Sections 1471 , 1472 , 1473 , and 1474 ) was signed into law on March 18, 2010 by President Obama as part...

U.S. FATCA Information Reporting: Fishing for Forsaken Tax Revenues

* by Lawrence A. Kogan, Esq. FATCA's Objective The Foreign Account Tax Compliance Act ("FATCA"), which added new Chapter 4 to Subtitle A of the Internal Revenue Code (comprising Sections 1471 , 1472 , 1473 , and 1474 ) was signed into law on March 18, 2010 by President Obama as part...