IRS Provides New Timeline For Implementation of FATCA (IRS NOTICE 2011-53, July 14, 2011)

IRS Provides New Timeline For Implementation of FATCA (IRS NOTICE 2011-53, July 14, 2011)

FATCA imposes a new global withholding and reporting regime intended to curb tax evasion and noncompliance by U.S. taxpayers. FATCA does this by expanding reporting and due diligence requirements on financial institutions, particularly foreign financial institutions. FATCA imposes a 30% withholding...

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