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Significant Proposed Legislation Would Increase Compliance Costs for U.S. Payors and Impact Worldwide Recipients of U.S. Source Income
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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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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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