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Significant Proposed Legislation Would Increase Compliance Costs for U.S. Payors and Impact Worldwide Recipients of U.S. Source Income
by Sutherland Asbill & Brennan LLP - Washington Office
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November 23, 2009
Previously published on November 10, 2009
On October 27, 2009, the Foreign Account Tax Compliance Act of 2009 (FATCA or FATCAT as referenced by some Hill officials) was introduced simultaneously in both houses of the U.S. Congress and endorsed by the Secretary of the Treasury, reflecting the joint drafting of the bill by the Congress and the Treasury Department. On December 1 from 1:00-2:00p.m., Sutherland will be hosting a webinar fully discussing the impact of the Foreign Account Tax Compliance Act of 2009.
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