FATCA and Streamlined

The Internal Revenue Service – IRS – is the revenue service department of The United States Federal Government. The government agency works under the Department of Treasury and is under the command of Commissioner of Internal Revenue who is appointed by the President of United States for a term of 5 years. The duties of […]

The IRS is set to send out letters in early 2018 to get financial information from certain U.S. people who has or had bank accounts in Swiss banks with delinquent filings and who signed waivers allowing the banks to hand over information to the IRS under FATCA (a Justice Department Program – DOJ). Under the

The United States is not the only country interested in pursuing foreign tax compliance involving overseas bank accounts, financial accounts and other income generating assets. Although FATCA (Foreign Account Tax Compliance Act) is a U.S. law, and the U.S. has entered into FATCA agreements with over 100 countries, there is another law on the horizon