By Gina Gatchell, Director In 2010 I received a call from a very upset US citizen about the enactment of the Foreign Account Tax Compliance Act. She sent me the article she had just read, which set out the future of information reporting by institutions outside the...
Eight years after the Foreign Account Tax Compliance Act (FATCA) was enacted as part of the 2010 Hire Act, the Eastern District of New York has prosecuted an executive of Loyal Bank for wilfully circumventing the reporting requirements of FATCA. The executive,...
The National Taxpayer Advocate’s Objectives Report to Congress for Fiscal Year 2016 contained the Taxpayer Advocate’s eleven areas of focus for 2016. Statement Area of Focus #4, The IRS’s Implementation of FATCA Has in Some Cases Imposed Unnecessary...
The Taxpayer Advocate’s review of the 2015 filing season commented that the IRS faced extraordinary challenges during the filing season. ‘The IRS continues to view itself, first and foremost, as an enforcement agency, and it thus develops its policies...
In addition to the newly negotiated and highly controversial TPP agreement, the rollout of the OECD’s Base Erosion and Profit Shifting (BEPS) project has New Zealand’s political and business leaders in heated discussions this week. The business...
