News & Analysis as of

Foreign Account Tax Compliance Act › Compliance

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 -
Conyers

Unveiling Tax Realities: Debunking Myths about the British Virgin Islands

Conyers on

In this review of taxation and the British Virgin Islands, Conyers Corporate Counsel Nicholas Kuria discusses some of the most commonly misunderstood notions relating to the use of offshore jurisdictions, with a focus on the...more

Allen Barron, Inc.

How Does the IRS Use AI to Identify Tax Cheats?

Allen Barron, Inc. on

Could Artificial Intelligence (AI) increase the likelihood of an IRS audit in your future? How does the IRS use AI to identify US taxpayers who attempt to hide assets, under-report income or otherwise cheat the IRS? In...more

Allen Barron, Inc.

Are There Strategies to Avoid an IRS Audit?

Allen Barron, Inc. on

Are there strategies to avoid an IRS audit? What are some of the known risks for triggering an IRS audit? What should you do if you have are concerned about the information provided a previous tax return? Is there a way to...more

Walkers

BVI ITA and Ministry of Finance requires entities to establish and maintain adequate systems and controls including a compliance...

Walkers on

The following BVI legislative supplements to the Mutual Legal Assistance (Tax Matters) Act (“MLA Act”) and the International Tax Authority Act (“ITA Act”) were gazetted on 13 June 2022: The Mutual Legal Assistance (Tax...more

Foley Hoag LLP

Important Dates and Reminders For Investment Advisers, Exempt Reporting Advisers, Commodity Trading Advisors and Commodity Pool...

Foley Hoag LLP on

INVESTMENT ADVISERS - Annual Compliance Reviews - All investment advisers registered with the Securities and Exchange Commission (“SEC”) or at the state level, are required to review their compliance policies and...more

Akin Gump Strauss Hauer & Feld LLP

2015-16 Compliance Developments & Calendar for Private Fund Advisers

Akin Gump Strauss Hauer & Feld LLP on

Registered investment advisers (RIAs) are required to review their policies and procedures on at least an annual basis. As an aid to the required review and to assist with timely completion of required compliance tasks, below...more

Goulston & Storrs PC

IRS Will Extend Some FATCA Transition Rules

Goulston & Storrs PC on

In new Notice 2015-66 the IRS said it plans to amend FATCA regulations to reduce certain collateral restrictions on grandfathered obligations and extend the following transition rules: (1) the date for when withholding on...more

Blake, Cassels & Graydon LLP

Year in Review: Legislation and Guidance for Financial Institutions in 2014

Blake, Cassels & Graydon LLP on

2014 was a year replete with new legislative and regulatory initiatives impacting federally regulated financial institutions. The key initiatives introduced or implemented in 2014 are outlined in our annual year in review....more

Akerman LLP

IRS Modifies Offshore Voluntary Disclosure Program and Expands Streamlined Procedures

Akerman LLP on

On June 18, 2014, the Internal Revenue Service (IRS) announced major changes to its 2012 Offshore Voluntary Disclosure Program (OVDP) and streamlined procedures. The modifications provide new options to help both taxpayers...more

Blank Rome LLP

IRS Commissioner Hints That OVDP Modifications Are in the Works

Blank Rome LLP on

Since 2009, the Internal Revenue Service has offered three different amnesty programs for taxpayers with undeclared foreign bank accounts. These programs, the current version of which is entitled the Offshore Voluntary...more

The Volkov Law Group

On The Chopping Block: Banks And Financial Institutions

The Volkov Law Group on

The Department of Justice has had enough. Banks and other financial institutions are not just on the radar screen – they are on the chopping block. One-by-one watch out – banks and other financial institutions are coming...more

Goodwin

IRS Notice 2014-33 – IRS Grants Relief for Good-Faith Efforts Under FATCA

Goodwin on

On May 2, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-33 (the “Notice”) providing that calendar years 2014 and 2015 will be regarded as a transition period for purposes of IRS enforcement and administration...more

Ballard Spahr LLP

Treasury Extends FATCA Compliance Date, Announces Other Amendments Affecting Foreign Banks

Ballard Spahr LLP on

The Internal Revenue Service (IRS) recently announced in Notice 2014-33 that 2014 and 2015 will be transitional years from an administrative and enforcement perspective regarding the implementation of the Foreign Account Tax...more

Akerman LLP

SEC Notes Growing Concern About Private Equity Fee Disclosures

Akerman LLP on

Recent comments by Andrew Bowden, Director of the Office of Compliance Inspections and Examinations for the Securities and Exchange Commission (SEC), highlight the growing tension between Dodd-Frank compliance and fund...more

Skadden, Arps, Slate, Meagher & Flom LLP

"IRS Large Business and International Division Increasingly Looks to Chief Counsel's Office to Advance Initiatives"

Skadden, Arps, Slate, Meagher & Flom LLP on

The Internal Revenue Service Large Business and International Division (LB&I) administers United States tax law for corporations, partnerships and individuals with assets greater than $10 million. These taxpayers typically...more

Sheppard Mullin Richter & Hampton LLP

2014 Compliance Checklist for Investment Advisers

Sheppard Mullin Richter & Hampton LLP on

For those of you still easing into 2014, we thought that now would be a good time to help you plot out your regulatory and internal compliance schedules for the upcoming calendar year....more

Proskauer Rose LLP

International Disclosure Obligations: "Beyond FATCA" - Further Developments in the Laws On Automatic Information Exchange and...

Proskauer Rose LLP on

The U.S. information reporting and withholding tax regime known as "FATCA"[1] was signed into law on March 18, 2010. In the nearly four years since, the attention of international financial institutions of every variety,...more

Thomas Fox - Compliance Evangelist

Inspector Lestrade – Does Leadership Matter?

Thomas Fox - Compliance Evangelist on

Continuing our Sherlock Holmes homage, today we draw inspiration from the character of Inspector Lestrade as the theme of this blog post. I thought about Inspector Lestrade when I read some of the comments of UBS Chief...more

Littler

Fair Credit Reporting Act Amendment Offers Important Protections From Lawsuits Targeting Background Check Programs

Littler on

In This Issue: - Summary Of FCRA Obligations On Employers That Use Consumer Reports For Employment Purposes - Potential Liability For FCRA Non-Compliance And The Growing Wave Of FCRA Class Action -...more

Foley & Lardner LLP

A Compilation of Enforcement and Non-Enforcement Actions - July 31, 2013

Foley & Lardner LLP on

Non-Enforcement Matters - Insider Trading in Mutual Fund Shares - Incentive for Whistleblowers to Bypass Internal Reporting - SEC Announces Compliance Outreach Sessions - Implementation of FATCA Reporting...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - July 22, 2013

Orrick, Herrington & Sutcliffe LLP on

SEC and EU Supervisory Cooperation for Asset Management Industry - On July 19, the SEC announced that it signed various memoranda of understanding with the financial regulators of 25 member states of the EU and 3...more

Foley Hoag LLP

FATCA Compliance for Investment Fund Managers, Part Two

Foley Hoag LLP on

This is the second in a series of Foley Advisers about FATCA, the new U.S. tax regime designed to combat offshore tax evasion by U.S. taxpayers that will go into effect on January 1, 2014. Our prior installment described...more

Foley Hoag LLP

FATCA Compliance for Investment Fund Managers Part One

Foley Hoag LLP on

U.S. Funds with Only U.S. Investors - FATCA, the new U.S. tax regime designed to combat offshore tax evasion by U.S. taxpayers, will go into effect on January 1, 2014. As a fund manager, you will be required to ensure...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review - April 2, 2013

Orrick, Herrington & Sutcliffe LLP on

In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Commodity Trader Advisor Registration - CFTC Regulations on Associated Persons of Swap Dealers and Major Swap Participants -...more

Troutman Pepper

IRS Issues Final FATCA Regulations

Troutman Pepper on

On January 17, 2013 the Internal Revenue Service issued long-awaited final regulations that implement the Foreign Account Tax Compliance Act (FATCA), the new reporting and withholding tax regime that applies to foreign...more

36 Results
 / 
View per page
Page: of 2
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide