Continue Reading Matthew D. Lee Authors 2020 Update to FATCA Answer Book
IRS Grants Financial Institutions Temporary Reprieve from FATCA Obligations Due to COVID-19
In response to the COVID-19 pandemic, the IRS has granted foreign financial institutions a number of extensions on Foreign Account Tax Compliance Act reporting obligations due in 2020.
IRS Postpones FATCA Reporting Deadline for Foreign Financial Institutions Due to COVID-19
In response to the COVID-19 pandemic, the Internal Revenue Service has agreed to extend many deadlines. One such extension affords foreign financial institutions more time to file Form 8966. Form
Continue Reading IRS Postpones FATCA Reporting Deadline for Foreign Financial Institutions Due to COVID-19
Matthew D. Lee Updates Foreign Account Tax Compliance Act Answer Book for 2019
Fox Rothschild LLP Partner Matthew D. Lee authored an updated version of the Foreign Account Tax Compliance Act Answer Book, which was originally published by Practising Law Institute in
Continue Reading Matthew D. Lee Updates Foreign Account Tax Compliance Act Answer Book for 2019
Matthew D. Lee Updates Foreign Account Tax Compliance Act Answer Book for 2019
Originally published by Practising Law Institute in 2015, this new edition addresses recent changes to FATCA regulations relating to compliance and verification procedures for a variety of entities, including sponsoring
Continue Reading Matthew D. Lee Updates Foreign Account Tax Compliance Act Answer Book for 2019
Treasury/IRS Issue Proposed Regulations to Ease FATCA Compliance Burdens
In response to Executive Orders requiring a broad federal review of existing regulations, Treasury and IRS issued this morning proposed regulations easing certain compliance burdens imposed on foreign financial institutions
Continue Reading Treasury/IRS Issue Proposed Regulations to Ease FATCA Compliance Burdens
IRS Issues Reminder of Upcoming FATCA Compliance Certification Deadline
Today the IRS published a reminder to foreign financial institutions and their compliance officers that certifications required by the Foreign Account Tax Compliance Act (FATCA) are due no later than
Continue Reading IRS Issues Reminder of Upcoming FATCA Compliance Certification Deadline
Transparency Tide or Tsunami? The New Wave of Global Reporting Rules and IRS Tools To Unearth Foreign Financial Accounts
On December 12, 2018, Matthew D. Lee will participate in a ABA Tax Section webinar entitled “Transparency Tide or Tsunami? The New Wave of Global Reporting Rules and IRS Tools
Continue Reading Transparency Tide or Tsunami? The New Wave of Global Reporting Rules and IRS Tools To Unearth Foreign Financial Accounts
Despite Closure of OVDP, Offshore Tax Evasion Crackdown Marches On
On September 29, 2018, the Internal Revenue Service closed for good the long-running Offshore Voluntary Disclosure Program (OVDP), its hugely successful tax amnesty program for undisclosed offshore financial assets. Since
Continue Reading Despite Closure of OVDP, Offshore Tax Evasion Crackdown Marches On
Offshore Bankers Beware: Justice Department Secures First-Ever Criminal Conviction for Violating FATCA
In a move sure to send shock waves through the offshore banking community, the Justice Department yesterday announced its first criminal conviction for violating the Foreign Account Tax Compliance Act
Continue Reading Offshore Bankers Beware: Justice Department Secures First-Ever Criminal Conviction for Violating FATCA