The Foreign Account Tax Compliance Act (FATCA) was enacted by Congress in 2010 as a way to target non-compliance by U.S. taxpayers using foreign accounts.…
The Foreign Account Tax Compliance Act (FATCA) was enacted by Congress in 2010 as a way to target non-compliance by U.S. taxpayers using foreign accounts.…
Wegelin & Co., Switzerland’s oldest bank, has agreed to pay $74 million to the United States to settle charges that it aided U.S. taxpayers in…
Switzerland and the U.S. Department of the Treasury have signed a bilateral agreement to share tax information and facilitate the implementation of the Foreign Account…
In June, the IRS announced new procedures to help U.S. citizens residing overseas, including dual citizens, catch up with tax filing obligations and assist with…
The Internal Revenue Service’s new procedures to help U.S. citizens residing overseas, including dual citizens, catch up with tax filing obligations go into effect on…
Switzerland’s Federal Administrative Court ruled that the tax office cannot release Credit Suisse bank data to the Internal Revenue Service (IRS). The IRS requested administrative…
The Treasury Department and the Internal Revenue Service (IRS) have issued proposed regulations for the next major phase of implementing the Foreign Account Tax Compliance…
At a meeting with European Union officials last week, the U.S. proposed changes to the Foreign Account Tax Compliance Act (Facta). Proposed changes are aimed at…
The Internal Revenue Service has persuaded U.S. taxpayers to disclose hidden offshore bank accounts but then sometimes failed to cap the penalties, as promised, an…