On the subject of taxpayer advocacy, the National Taxpayer Advocate delivered it’s annual report to Congress last week. Which actually turns out to be quite an eye-opener for a number of reasons. The report’s number one recommendation was the need for tax...
Most of New Zealand is on holiday this week so the last thing they are watching with bated breath is the unfolding developments with the fiscal cliff. That is unless they are US expats with substantial income or investments, residing or holidaying here. The corollary...
The proposed Treasury Regulations concerning Chapter 4 of the Internal Revenue Code, Taxes to Enforce Reporting on Certain Foreign Accounts, otherwise known as FATCA (Foreign Account Tax Compliance Act) were released in February 2012. The 388-page Regulations...
The NZ Bankers’ Association made a submission to the IRS in June 2011 requesting that banks registered under the Reserve Bank of New Zealand Act be exempted from their obligations under FATCA. The submission, which was dated 7 June 2011, also endorses...
A while ago I wrote about a call I had from a financial planner in New Zealand whose client had allegedly been denied an account and said I would research these allegations further. I have been doing some research on FATCA today as I write an update on this for the...
