We have previously written about the Internal Revenue Service’s publication in late 2016 of an updated “FFI Agreement” to be entered into by foreign financial institutions that wish to remain
Continue Reading FATCA Update: IRS Publishes FAQs As July 31 FFI Agreement Renewal Deadline Looms
FATCA Update: IRS Releases Updated FATCA Online Registration User Guide
The Internal Revenue Service has released an updated version of its “FATCA Online Registration User Guide.” The updates primarily address the newly-released FFI agreement renewal function, which is now available
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FATCA Update: FFI Agreement Renewal Function Now Available
The Internal Revenue Service announced today that its FATCA FFI Registration system has been updated to allow foreign financial institutions to renew their FFI agreement with the IRS. Those financial
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In Securities Fraud Case, Prosecutors Allege Novel Money Laundering Scheme to Circumvent FATCA Reporting Obligations
The U.S. Attorney’s Office for the Eastern District of New York has charged four individuals with securities fraud conspiracy for their involvement in fraudulently manipulating the stock of a U.S.
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FATCA Update: IRS Reminds FFIs to Renew Their FFI Agreements by July 31, 2017
Following its publication on December 30, 2016, of an updated FFI agreement, the Internal Revenue Service has published a reminder to financial institutions about renewing their FFI agreement. All
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IRS Announces 13 Issues Targeted Under its New Audit Campaigns
On January 31, 2017, the IRS announced the initial rollout of its new audit strategy and identified 13 specific issues (campaigns) it will be targeting. The IRS is moving toward
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FATCA Update: Treasury Releases Massive Package of Regulations At End of 2016
On December 30, 2016, the Treasury Department released a widely-anticipated set of final, temporary, and proposed regulations further implementing the Foreign Account Tax Compliance Act (FATCA). Originally enacted in 2010,
Continue Reading FATCA Update: Treasury Releases Massive Package of Regulations At End of 2016