Tax Law

Recent Posts

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

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

More FATCA Reporting Requirements Guidance for FFIs
Posted on 10 May 2011 by Neil Aragones

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... Read More

Reporting Obligations of U.S. Beneficiaries of Foreign Trusts and New Form 8938
Posted on 18 Dec 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

HIRE Act: FATCA Provisions Affect Rules Governing Foreign Trusts and Reporting Requirements
Posted on 20 Apr 2010 by Christensen, Kruse, Moore, Stone

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

FATCA's Application to Investment Funds - LexisNexis® Podcast
Posted on 23 Jun 2011 by LexisNexis Tax Center

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... 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

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

U.K., U.S. Agree on Compliance, Information Reporting, Withholding Provisions (FATCA)
Posted on 18 Dec 2012 by Karen Yip

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... 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

New Reporting Requirements for U.S. Owners and Grantors of Foreign Trusts
Posted on 6 Jul 2011 by Diane L. Mutolo

By Diane L. Mutolo, J.D., LL.M. * 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... Read More

U.K., U.S. Agree on Compliance, Information Reporting, Withholding Provisions (FATCA)
Posted on 18 Sep 2012 by Karen Yip

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... Read More

More FATCA Reporting Requirements Guidance for FFIs
Posted on 10 May 2011 by Neil Aragones

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... Read More

FATCA's Application to Investment Funds - LexisNexis® Podcast
Posted on 23 Jun 2011 by LexisNexis Tax Center

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... Read More

HIRE Act: FATCA Provisions Affect Rules Governing Foreign Trusts and Reporting Requirements
Posted on 20 Apr 2010 by Christensen, Kruse, Moore, Stone

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... Read More