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FATCA Provisions in the HIRE Act (H.R. 2847)

New Reporting Requirements, Penalties for Foreign Financial Institutions, Account Holders H.R. 2847, the Hiring Incentives to Restore Employment (HIRE) Act, signed into law on March 18th, mandates 30 percent tax withholding on payments to foreign financial institutions (FFIs) that fail to comply with...

FATCA Provisions in the HIRE Act (H.R. 2847)

New Reporting Requirements, Penalties for Foreign Financial Institutions, Account Holders H.R. 2847, the Hiring Incentives to Restore Employment (HIRE) Act, signed into law on March 18th, mandates 30 percent tax withholding on payments to foreign financial institutions (FFIs) that fail to comply with...

Further Guidance on Reporting on U.S. Accounts by Foreign Financial Institutions (FFIs)

[ Editor's Note: This narrative is derived from Rhoades & Langer, U.S. International Taxation and Tax Treaties § 27.02[1][j] (Matthew Bender) .] In 2010, Congress adopted a rather complicated set of rules designed to further enforce compliance of U.S. tax and money laundering laws by...

Further Guidance on Reporting on U.S. Accounts by Foreign Financial Institutions (FFIs)

[ Editor's Note: This narrative is derived from Rhoades & Langer, U.S. International Taxation and Tax Treaties § 27.02[1][j] (Matthew Bender) .] In 2010, Congress adopted a rather complicated set of rules designed to further enforce compliance of U.S. tax and money laundering laws by U...