Tax Law

Recent Posts

FATCA (Foreign Account Tax Compliance Act) Proposed Regulations
Posted on 26 Jun 2012 by Pamela Revak

The most recent proposed Foreign Account Tax Compliance Act (FATCA) regulations are designed to lighten the due diligence and compliance burden on foreign financial institutions and U.S. withholding agents, especially with respect to high value accounts... Read More

FATCA Imposes Burdens on NFFEs
Posted on 22 Jan 2013 by LexisNexis Tax Law Community Staff

by Lawrence A. Kogan* The Foreign Account Tax Compliance Act of 2010 (FATCA) and its regs impose certain information gathering, reporting and withholding requirements on nonfinancial foreign entities (NFEEs) operated by U.S. taxpayers overseas. In... Read More

U.S. FATCA Information Reporting: Fishing for Forsaken Tax Revenues
Posted on 20 Dec 2012 by LexisNexis Tax Law Community Staff

* 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... Read More

Foreign Acoount Tax Compliance Act (FATCA) and Related HIRE Act Provisions
Posted on 18 Jan 2012 by LN Tax Law Staff

The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE) [111 P.L. 147] in order to help fight tax evasion by U.S. taxpayers with foreign accounts. FATCA generally applies to... Read More

New Jobs Bill's Tax Provisons Favor Employers
Posted on 25 Mar 2010 by Patricia Hughes Mills, J.D., L.L.M.

Hiring Incentives to Restore Employment Act ("HIRE" Act) tax provisions include a payroll tax holiday for employees hired in 2010, along with an employer tax credit if those employees are retained for a year. HIRE also increases business assets... Read More

Reporting Requirements for U.S. Owners and Grantors of Foreign Trusts
Posted on 18 Jul 2011 by Diane L. Mutolo

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... Read More

Reporting Obligations of U.S. Beneficiaries of Foreign Trusts and New Form 8938
Posted on 20 Apr 2012 by Diane L. Mutolo

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... Read More

Hiring Incentives to Restore Employment Act - An Analysis
Posted on 26 Mar 2010 by Gerald W. Paulukonis, J.D.

This article discusses the tax provisons of H.R. 2847, which was signed into law by President Barack H. Obama on March 18, 2010 and enrolled as Public Law 111-147. Although a key focal point of the legislation was extending jobs, there were numerous tax... Read More