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...
The Internal Revenue Service has announced the end of the Offshore Voluntary Disclosure Program (OVDP). The deadline for full and final submissions has been announced as 28 September 2018. The OVDP program has been around in one form or another since 2009. It is...
A reminder that the 2015 Report of Foreign Bank and Financial Accounts (FBARs) Form FinCen 114 is due for filing by 30 June 2016 and there are no extensions available. The change in due dates comes into effect for the 2016 tax year, when the due date changes to 15...
The deadline for reporting United States account holders with foreign financial institutions is almost upon us. Although FATCA was enacted in 2010 as part of the HIRE act, we are only now on the cusp of its ramifications. New Zealand and the United States signed an...
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...
