The Facts on FATCA (Foreign Account Tax Compliance Act)

The Facts on FATCA (Foreign Account Tax Compliance Act)

On March 28, 2010, President Obama signed the Foreign Account Tax Compliance Act (“FATCA”) into law (sections 1471 through 1474 of the Internal Revenue Code), which became part of the Hiring Incentives to Restore Employment Act. FATCA was enacted to combat tax evasion by U.S. persons...

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