Tax Law

Recent Posts

FATCA FFI Compliance Extended; FATCA Portal, Other Key Dates Pushed Back
Posted on 15 Jul 2013 by William H. Byrnes IV

In a major U.S. Treasury announcement about FATCA on the morning of July 12, 2013, titled “Engaging with More than 80 Countries to Combat Offshore Tax Evasion and Improve Global Tax Compliance.” Treasury extended by six months the start of... Read More

FATCA's Application to Foreign Entities and Foreign Assets
Posted on 25 Mar 2013 by LexisNexis Tax Law Community Staff

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

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

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

FATCA Regs Expand Deemed-Compliant FFIs
Posted on 12 Mar 2013 by Neil Aragones

The final Foreign Account Tax Compliance Act (FATCA) regulations, issued on January 28, 2013, expand the categories of foreign financial institutions (FFIs) that are deemed to be in compliance with FATCA. In general, under FATCA, U.S. withholding agents... Read More

Completing FATCA Forms
Posted on 10 Jul 2014 by William H. Byrnes IV

Modifications have recently been made to the forms that foreign individuals and entities complete in conjunction with FATCA. The 2014 Form W-8BEN is for use solely by foreign individuals , while Form W-8BEN-E is for use by entities . Payment recipients... Read More

Definition Added to FATCA Requirements Landscape
Posted on 27 Feb 2012 by Neil Aragones

Proposed Regs Revise FATCA's Due Diligence Procedures: Pre-existing Individual Accounts and Electronic Searches The much-anticipated proposed regulations under the Foreign Account Tax Compliance Act (FATCA) have been issued by the Treasury, and... Read More

Unearthing the Value in FATCA
Posted on 6 Feb 2013 by LexisNexis Tax Law Community Staff

by Micah Willbrand - LexisNexis ®.* ... At the time of its passage in 2010, the Foreign Account Tax Compliance Act (FATCA) appeared to be another reporting requirement for financial institutions (FIs). However, FATCA has long-term benefits for... Read More

FATCA FFI Compliance Extended; FATCA Portal, Other Key Dates Pushed Back
Posted on 23 Jul 2013 by William H. Byrnes IV

In a major U.S. Treasury announcement about FATCA on the morning of July 12, 2013, titled “Engaging with More than 80 Countries to Combat Offshore Tax Evasion and Improve Global Tax Compliance.” Treasury extended by six months the start of... Read More

HIRE Act Focuses on Disclosure and Reporting by Foreign Financial Institutions
Posted on 23 Apr 2010 by Joan C. Arnold and Laura D. Warren

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... Read More

FATCA Compliance Programs
Posted on 24 Mar 2014 by William H. Byrnes IV

By Prof. William H. Byrnes and Dr. Robert J. Munro * Editor's Note: The following is an excerpt from Chapter 2 of the 2014 edition of LexisNexis Guide to LexisNexis® Guide to FATCA Compliance by William Byrnes and Robert Munro, published February... Read More

Reporting and Withholding Guidance: Payments to FFIs Under FATCA
Posted on 2 Apr 2012 by LexisNexis Tax Law Community Staff

Editor's Note : This narrative is derived from Tax Controversies: Audits, Investigations, Trials § 17.04 (Matthew Bender) by Robert S. Fink, J.D., LL.M., Kostelanetz & Fink, LLP, New York, N.Y. ... The Foreign Account Tax Compliance Act... Read More

LexisNexis® Guide to FATCA Compliance
Posted on 28 Feb 2013 by LexisNexis Tax Law Community Staff

As the world becomes "smaller," the dynamics of global financial transactions are intensifying. This is why the Foreign Account Tax Compliance Act (FATCA) is one of the most important awareness issues in today's tax policy and compliance... Read More

FATCA Withholding Compliance
Posted on 22 May 2013 by LexisNexis Tax Law Community Staff

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

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 part... Read More