Editor's Note: The following is an excerpt from Chapter 11 of the LexisNexis® Guide to FATCA Compliance * by William Byrnes and Robert Munro. The title is now shipping to customers world-wide. SUMMARY Importance of the Income Source In... Read More

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 part... Read More

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

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today issued TD 9610 Final Regulations implementing the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). The... Read More

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

Editor's Note: The following is an excerpt from Chapter 2 of the LexisNexis® Guide to FATCA Compliance * by William Byrnes and Robert Munro. ... The over-arching requirements for FATCA [the Foreign Account Tax Compliance Act] are three-fold... Read More

* by Prof. William H. Byrnes IV and Haydon Perryman FATCA [the Foreign Account Tax Compliance Act] requires that foreign financial institutions [FFIs] make regular certifications to the IRS, as well as annually disclose taxpayer and account information... Read More

by Denis Kleinfeld * The U.S. Treasury announced on July 12, that due to overwhelming concern from countries around the world, the implementation of FATCA (the Foreign Account Compliance Tax Act) would be deferred from January 1, 2014 to June 30, 2014... Read More

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

Editor's Note : The following is an excerpt from 1-17 Tax Controversies: Audits, Investigations, Trials §17.04 (Matthew Bender) ... The Foreign Account Tax Compliance Act, or FATCA, enacted in March 2010 and codified at IRC §§... Read More

U.S. taxpayers with assets overseas and their advisers should be mindful of new Form 8938, Statement of Specified Foreign Financial Assets , as they prepare the taxpayers' federal income tax returns for 2011. Temporary Regulations issued in December... Read More

Editor's Note: The following is an excerpt from Chapter 6 of the forthcoming LexisNexis® Guide to FATCA Compliance by William Byrnes and Robert Munro, scheduled for publication in May 2013. Types of Entities The Foreign Account Tax Compliance... Read More

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

On March 18, 2010, President Obama signed into law H.R. 2847, the Hiring Incentives to Restore Employment Act (HIRE). HIRE targets job creation by providing tax incentives, such as business credits to companies for newly hired employees. The offset... Read More

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