Is your client the subject of an FBAR examination?

FBAR or Foreign Bank and Financial Accounts report is required to be filed by a person residing in the USA, a domestic partnership, a domestic corporation, [...]

FATCA prompting US NRIs to sell property in India

Many US-based non-resident Indians are considering selling their property in India – even at a discount – amid confusion and fear that a new [...]

FATCA prompting US NRIs to sell property in India

Many US­based non­resident Indians are considering selling their property in India ­ even at a discount [...]

IRS Nets Offshore Data From 77,000 Banks, 70 Countries In FATCA Push

An astounding 77,000 banks and financial institutions—even some in Russia—have registered under FATCA—the Foreign Account Tax Compliance Act. [...]

IRS Makes Progress on FATCA Implementation

The Internal Revenue Service has made progress on implementing the Foreign Account Tax Compliance Act, including explaining the various requirements to the [...]

IRS Announces Key Milestone in FATCA Implementation; U.S. Begins Reciprocal Automatic Exchange of Tax Information under Intergovernmental Agreements

WASHINGTON — The Internal Revenue Service today announced the exchange of financial account information with certain foreign tax administrations, meeting a [...]

IRS, Treasury Intend to Extend the Time Certain FATCA Transitional Rules Apply

1.  IRS, Treasury Intend to Extend the Time Certain FATCA Transitional Rules Apply Notice 2015-66 announces that the Department of the Treasury [...]

India likely to sign US tax compliance law FATCA on Thursday

India is likely to sign the inter- governmental pact for the US tax compliance law FATCA on Thursday, a move that will help it fight tax evasion. Foreign [...]

FATCA Pressures Taxpayers to Reveal Accounts to IRS

The Foreign Account Tax Compliance Act is meeting with some success in prompting foreign banks to disclose the holdings of U.S. taxpayers to the Internal [...]

IRS Opens FATCA International Data Exchange Gateway

<p> The Internal Revenue Service’s Large Business & International division has opened a gateway that financial institutions and the tax [...]