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...
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...
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...
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...
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...
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...