EWAlexander

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NBK - New FATCA Information

New IRS Amnesty, FATCA & FFI Reporting

FATCA- Clarification of the Forms

FBAR: Exclusion of Personal and Homeowner’s Lines of Credit

Often, I receive specific questions from my clients with respect to whether certain types of accounts should be reported on the Report on Foreign …

Account Suspended

FATCA, Form 8938 and TD F 90-22.1 Disclosure: Making Informed Decisions

The past decade brought on a wave of new international tax legislation as well as unprecedented enforcement of older tax laws. From FinCEN Form 114 …

Management

What FATCA Really Means To Taxpayers

The repercussions of the Foreign Account Tax Compliance Act (FATCA) are rippling across the financial sector – but what does the law mean for …

More Speaking Out Against FATCA

Ruth Freeborn of Kingston Ontario is again speaking out on FATCA. Ruth has been quoted in Wall Street Journal, Globe and Mail and on CBC.Today, she …

Russian premier gives Finance Ministry until Jan 20 to draft FATCA-linked agreement with U.S. - Russia Beyond

The Russian Finance Ministry and the Central Bank have been given until January 20, 2014 to draft an agreement on bilateral cooperation to implement the U.S. Foreign Account Tax Compliance Act, which requires banks to provide the U.S. customs service with information about accounts opened by U.S. …

Don't rush too fast into Fatca compliance: PwC

Hong Kong-based alternative asset managers with Cayman Islands-domiciled funds are rushing to comply with the US Foreign Account Tax Compliance Act …

Hong Kong

Repeal FATCA Rallying Cry From Republicans

Republican party leaders want to repeal President Barak Obama’s flagship Foreign Account Tax Compliance Act (FATCA) because Americans are flocking to …

The unfolding costs of FATCA

Today the expatriate-punishing tax law, rife with unintended consequences, expands its reach further into the insurance sector. [Frederic Garsson and …

FATCA – A Happy New Year?

Happy New Year?<p>Together with Professor Byrnes I have, for many months, been providing a commentary on the list that the USA provides of “approved …

Fatca: A breach of Philippine sovereignty?

HAVE you opened a bank account lately? Among the customary forms required by the Bangko Sentral ng Pilipinas (BSP) and the bank’s internal-compliance …

7 Sins With Bank Accounts? FATCA Makes Them Deadly

Over the last few years, IRS subpoenas and prosecutions have caused banks to name names of U.S. citizens and residents with foreign accounts. But that was a drop in the bucket. The biggest sea change is FATCA, a 2010 law that takes effect in 2014. It’s the reason overseas banks are asking questions …

FATCA in Kuwait – Hello IRS

• August 24, 2014. 2014<br>• /<br>• Kuwait<br>• /<br>• 16 Comments<p>If you don’t know what FATCA is or never heard of it, then you probably don’t have to worry about it. But if …

Caymans & Costa Rica Sign U.S. Tax Evasion Pact---FATCA Gets Even Fatter

Caribbean and Central American havens are often thought to be less rigorous in their observance of banking and tax laws than European nations like Switzerland. Of course, Swiss banking has experienced a sea change since UBS paid a $780 million fine and reached a deferred prosecution agreement with …

FATCA, IRS Global Tax Law, Is Everywhere -- Even Russia & China

FATCA—the Foreign Account Tax Compliance Act—is America’s global tax law. And it’s finally here after a four-year ramp up. It requires foreign banks to reveal American accounts holding over $50,000. Bank secrecy? Forget it. Non-compliant institutions could be frozen out of U.S. markets, so everyone …

1040 Abroad - Your Trusted U.S. Expat Tax Services

Our process<p>We’ll get back to you within 24 hours, answer your questions and explain the process further.<p>Upload your documents through our secure data …

IRS Nets Offshore Data From 77,000 Banks, 70 Countries In FATCA Push

An astounding 77,000 banks and financial institutions—even some in Russia—have registered under FATCA—the Foreign Account Tax Compliance Act. America’s global tax law requires foreign banks to reveal American accounts holding over $50,000. Non-compliant institutions could be frozen out of U.S. …

Explaining The Wormy Morass Of Obama's FATCA Tax Evasion Law

Is every item buried in Table S-9 of the President’s budget a big can of worms? The only one I understand is big like a roadside attraction. By my count it’s item 237 out of 373: “Provide for reciprocal reporting of information in connection with the implementation of FATCA.” FATCA refers to the …

Armed With FATCA, IRS Hunts Offshore Tax Evaders, While Canada Eases Up

In a move tied to budgets, Canada’s Revenue Agency is cutting its top staff focused on international tax evasion. Cuts to experienced personnel who ferret out aggressive tax planning appear to be deepest, despite comments by MP Gerald Keddy that “the CRA is not reducing the number of auditors, nor …

Canadians File Suit To Block FATCA And Prohibit Handover Of U.S. Names To IRS

A lawsuit has been filed by several Canadian citizens against the Canadian Attorney General in Federal Court in Canada. The legal claim challenges the constitutionality of the agreement the Canadian government struck with the United States. The controversial deal between nations was inked under …

Letter From Phnom Penh (3): FATCA Turning Local Banks Into IRS Enforcers

During the 18 months I spent in this city in 2005 and 2006 the gargantuan structure of the American embassy was being constructed on a full city block bordering on the hill atop which sits the hallowed temple Wat Phnom.<p>Looking like one of the cavernous buildings that dominate both sides of …