The Treasury Department and the IRS released today a notice that instructs foreign financial institutions on how to effectively comply with the Foreign AccountTax Compliance Act (FATCA) when they interact with the IRS or Model 2 intergovernmental agencies, in advance of when the regulation goes into effect on July 1, 2014, as well as providing a draft agreement for those same institutions. The law, which passed in 2010, requires U.S.
↧