|July 9, 2014|
Previously published on June 30, 2014
More than four years after Congress enacted the Hiring Incentives to Restore Employment Act of 2010, Pub. L. 111-147, which added the Foreign Account Tax Compliance Act (FATCA) provisions to the Internal Revenue Code, FATCA will become effective on July 1, 2014. While the importance of this date has been mitigated somewhat by the transition period rules of Notice 2013-33 (discussed below), the last few days nevertheless have brought a mountain of last minute publications from the IRS and the Treasury.