Record renunciations: Nearly 5,000 Americans renounced citizenship in 2024, citing taxes, politics, and banking restrictions.
On July 1, the Foreign Account Tax Compliance Act (FATCA) will fully take effect. FATCA is supposed to reduce tax evasion by making it harder for tax cheats to abuse tax havens. In practice, however, ...
Record renunciations: In 2024, nearly 5,000 Americans gave up their citizenship, up from 2,426 in 2021, with embassies facing months-long backlogs. Main drivers: Tax obligations, banking restrictions ...
HMRC’s 29 April 2026 update contains two CRS-relevant changes that Financial Institutions should focus on: penalty guidance ...
Budget amendment SA 621, to repeal FATCA, the Foreign Account Tax Compliance Act, failed to reach the Senate floor. Efforts to repeal America's massive global disclosure law may not be dead, but they ...
On 1/21/25, the IRS issued Bulletin Issue Number: 2025-02 to remind the FATCA Responsible Officer that Certifications are due 7/1/25 for the Certification period ending December 31, 2024. The Bulletin ...
The FATCA Online Registration System is a Web-based system that financial institutions and other entities can use to register for FATCA purposes. FATCA was included as part of the HIRE Act of 2010 and ...
Tax and legal issues can be difficult waters to navigate. For U.S. individuals and companies doing business in Latin America, however, it can be come even trickier. The introduction of the Foreign ...
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