Tags » Foreign Account Tax Compliance Act

Passport Revocation - They'll Do It For You

Perhaps I should entitle this article with the added label, “or Highway Robbery by the IRS.” First a bit of historical background. Perhaps you were not aware that FATCA came upon us as an amendment to the Hiring Incentives to Restore Employment (HIRE) Act back in 2010. 517 more words

Foreign Account Tax Compliance Act

FATCA Update: Institute of International Bankers Submits Comment Letter on FATCA Regulations

The Institute of International Bankers (IIB) has submitted a comment letter (available through Bloomberg BNA here; subscription required) to the Internal Revenue Service addressing various issues arising under the FATCA regulations. 1,805 more words


FATCA Update: Treasury Relaxes September 30 Deadline for Model 1 IGA Jurisdictions to Exchange Tax Information

With less than two weeks remaining until many countries are required to exchange tax information with the U.S. pursuant to the Foreign Account Tax Compliance Act (FATCA), the U.S. 903 more words


Swiss Banks Bank Zweiplus and Banca Stato Have Entered into Non-Prosecution Agreements under the DOJ’s Swiss Bank Program

Two more Swiss banks have reached resolutions with the Justice Department under its Swiss Bank Program. Yesterday, DOJ announced that bank zweiplus ag (Bank Zweiplus) and Banca dello Stato del Cantone Ticino (Banca Stato) have each entered into a non-prosecution agreement for any tax-related criminal offenses and agreed to pay a penalty of just over $1 million and $3 million, respectively. 940 more words

Criminal Tax

FATCA Update: IRS Issues Guidance Regarding Electronic Transmission of Forms W-8 and Updates Information Reporting Guides

The Internal Revenue Service has issued additional informal guidance regarding implementation of the Foreign Account Tax Compliance Act (FATCA). First, the IRS published a new… 374 more words