IRS Announces New Guidance on FATCA Timelines, Gross Proceeds and Grandfathered Obligations

IRS Announces New Guidance on FATCA Timelines, Gross Proceeds and Grandfathered Obligations

On October 24, 2012, the IRS issued Announcement 2012-42, presenting additional guidance for effectuating the Foreign Account Tax Compliance Act (FATCA). The new guidance, to be incorporated in the still forthcoming final regulations, sets out new deadlines for due diligence, postpones withholding...

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