Category: General Discussion

IRS Loosens Deadline for New Accounts

The IRS announced today that the deadline for new account opening procedures for accounts opened between July 1, 2014 and December 31, 2014 would be delayed.  Instead, the pre-existing account procedures may be applied to new accounts opened during this time period.  Therefore, those entities who are subjected to the compliance rules imposed by FATCA […]

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FATCA Phishing Scam

IRS Informs of New Phishing Scam The IRS released a statement describing a new phishing scam involving FATCA that has come to its attention.  Apparently some individuals have contacted financial institutions claiming to be the IRS and have requested information on account holders. The IRS warned that it will never request this information over the phone […]

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Amended FATCA Regulations

Earlier today, the IRS released a set of amendments to the final FATCA regulations.  These amendments incorporate some items that have been disclosed in a number of IRS Notices released since the final regulations were released in January 2013.  Additionally, the amended regulations include certain clarifications based on the continous comments the IRS has received. […]

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Treasury Fights Back FATCA Critics

The Treasury Department has been finally sharing the fruits of its labor.  While it appears that the IRS and Treasury Department was moving a snail speeds to get FATCA’s framework up and going, the rate of activity has picked up greatly.  After announcing the further delay of FATCA until July 1, 2014, they seem serious […]

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