FATCA Fallout: Multinational Banks Respond, Canada Enters Negotiations with Feds on FATCA Treatment, and IRS Head Gives Speech on Expected FATCA Regs

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12/27/2011

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[This post is the fourth in a series discussing the Foreign Account Tax Compliance Act (FATCA) and its impact upon foreign investment and development in South Florida and the United States as well as efforts both locally and in other countries to stop FATCA.]

As 2011 comes to an end and time ticks closer to the June 2013 effective date of the Foreign Account Tax Compliance Act (FATCA), more and more reaction across the globe is taking place. As discussed earlier, to implement the requirements of FATCA will cost banks an enormous amount of money -- and there are many foreign lenders that are not too happy at the prospect.

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Published In: Administrative Law Updates, Finance & Banking Updates, International Law & Trade Updates, Tax Law Updates

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.