FATCA Update: Treasury Releases Massive Package of Regulations At End of 2016
Categories: Tax
On December 30, 2016, the Treasury Department released a widely-anticipated set of final, temporary, and proposed regulations further implementing the Foreign Account Tax Compliance Act (FATCA). Originally enacted in 2010, and fully effective as of July 1, 2014, FATCA is a controversial anti-tax evasion law which requires foreign financial institutions to annually disclose to the Internal Revenue Service identifying information regarding their U.S. customers.
