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...
In April, the IRS issued Notice 2011-34, modifying and supplementing initial guidance provided by Notice 2010-60 on the future reporting, documentation, and withholding requirements for foreign financial institutions (FFIs) that have U.S. accounts. Notice...
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...
On March 18, 2010, President Obama signed into law H.R. 2847, the
Incentives to Restore Employment Act (HIRE). HIRE targets job creation
providing tax incentives, such as business credits to companies for
employees. The offset...
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...
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...
* by Lawrence A. Kogan, Esq.
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...
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...
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...