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Foreign Account Tax Compliance Act › Foreign Financial Institutions › HIRE Act

The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers... more +
The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers by capturing tax revenue related to foreign assets and off-shore accounts.  less -
Orrick, Herrington & Sutcliffe LLP

Final Regulations Implementing the Foreign Account Tax Compliance Act (“FATCA”)

Orrick, Herrington & Sutcliffe LLP on

On January 17, 2013, the Internal Revenue Service (“IRS”) released final regulations (the “Final Regulations”) implementing the reporting and withholding provisions of the HIRE Act (commonly known as the Foreign Account Tax...more

Butler Snow LLP

FATCA: Final Regulations Raise Questions for Trust Practitioners

Butler Snow LLP on

In the wake of a series of scandals involving U.S. taxpayers sheltering their assets from the reach of the U.S. Internal Revenue Service (IRS), Congress enacted the Foreign Account Tax Compliance Act (FATCA) on 18 March 2010...more

Akerman LLP

IRS Releases Draft Form to Certify Status Of Individuals for Withholding Under FATCA

Akerman LLP on

On September 11, 2012, the Internal Revenue Service (“IRS”) released a new draft version of Form W-8 BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individuals). This Form is used...more

Akerman LLP

IRS Issues Draft Withholding Forms Conforming To FATCA

Akerman LLP on

The Foreign Account Tax Compliance Act ("FATCA"), passed as part of the Hiring Incentives to Restore Employment (HIRE) Act enacted in March 2010, added a requirement which generally provides that a foreign financial...more

McDermott Will & Emery

Proposed Regulations Provide FATCA Compliance Guidance for Foreign Financial Institutions, Other Foreign Entities and U.S....

McDermott Will & Emery on

The U.S. Department of the Treasury and the Internal Revenue Service recently issued proposed regulations under Sections 1471–1474 of the Internal Revenue Code. The proposed regulations provide updated guidance on information...more

Bracewell LLP

Treasury Department Issues Proposed Regulations Under FATCA and Unveils Bilateral Agreements for Partner Countries With Respect to...

Bracewell LLP on

This update is a follow-up to our May 6, 2010 publication, HIRE Act of 2010 - Increases Need for International Tax Compliance, with respect to the new information reporting obligations for foreign financial institutions...more

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