Search Results for: Internal Revenue Service (IRS)
Improvements Looked For In IRS External Leads Program
August 28th, 2014
Participation in the United States Internal Revenue Service (IRS) External Leads Program is growing, resulting in the receipt of a significantly larger volume of leads about questionable tax refunds, but the agency is not always verifying the leads timely, ...
American taxpayers abandon U.S. before register to FATCA
August 11th, 2014
The U.S. Treasury Department has published indicative numbers illustrating the number of 1 577 United States taxpayers giving up their passports or their green cards in the first half of this year. The increasing number of individuals doing so, ...
IA ANALYSIS: FATCA is stranger than fiction
July 22nd, 2014
FATCA was implemented worldwide at the beginning of this month, but the impact (and costs) are only now just beginning to filter through to the financial services community. Part of the US Hiring Incentives to Restore Employment Act (HIRE), ...
Accountants To See IRS In Court Over Tax Preparer Program
July 18th, 2014
The American Institute of Certified Public Accountants (AICPA) has filed a federal lawsuit calling for the voluntary tax return preparer regulatory program planned by the United States Internal Revenue Service (IRS) to be declared unlawful. AICPA President and CEO ...
IRS Issues Final Regs On Truncated TINs
July 16th, 2014
As part of efforts to combat identity theft and tax refund fraud, the United States Treasury Department has released, in the Federal Registry, final regulations applicable to the use of Internal Revenue Service (IRS) truncated taxpayer identification numbers (TTINs). ...
10 IGAs Join ‘In Substance’ FATCA List Just Before July 1
July 7th, 2014
Ten further foreign jurisdictions were included by the United States Treasury in its latest monthly list, issued on July 1, 2014, as having reached agreements in substance on June 30, 2014, on the terms of intergovernmental agreements (IGAs) under ...
Hong Kong, US Wrapping Up FATCA Agreement
May 13th, 2014
Hong Kong and the United States have substantially concluded discussions on an inter-governmental agreement (IGA) to simplify Hong Kong financial institutions’ compliance with the Foreign Account Tax Compliance Act. The Financial Services and the Treasury Bureau (FSTB) said that ...
Cyprus Banks Move to Comply With FATCA
January 15th, 2015
Cyprus’ banks are exerting all efforts to comply with the Foreign Account Tax Compliance Act (FATCA) agreement signed between Cyprus and the USA, the Association of Cyprus Banks revealed yesterday. Cyprus and the US signed an agreement for the ...
US Foreign Account Tax Compliance Act Takes Force
July 3rd, 2014
In what the United States Administration has called an “effort to crack down on tax evasion and reduce the tax gap,” the Foreign Account Tax Compliance Act came into effect on July 1. Enacted in March 2010, FATCA adds ...
