Recently by Joseph A. Riley
International Trade
Treasury Department Extends FBAR Deadline Until June 30, 2014, For Certain Filers
On December 26, 2012, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued Notice 2012-2, which extends for certain filers the due date for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (the “FBAR”), to June 30,...
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Tax Changes For Investment Funds And Their Investors In Fiscal Cliff Legislation
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”). The Act addresses, among other things, provisions of the Internal Revenue Code that were scheduled to expire on December 31, 2012, or had expired previously, including many of...
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IRS Releases U.S. Form 8937 For Issuers Of Securities To Use For Reporting Corporate Actions Affecting Basis Under Section 6045B: Immediate Deadline
All corporate issuers of stock, other than regulated investment companies, that during 2011 underwent a corporate action, defined below, affecting the basis of their securities must file or post on their websites a completed U.S. Form 8937 (the “Form”)[1] by January 17, 2012. The Form...
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IRS Releases Timeline For Implementing FATCA, Including Delaying The Deadline Until 2014 For Foreign Financial Institutions' Compliance With Certain Provisions
On July 14, 2011, the Internal Revenue Service issued Notice 2011-531announcing plans to phase in the requirements of the Foreign Account Tax Compliance Act ("FATCA"), which targets noncompliance by U.S. taxpayers holding foreign accounts. The Notice addresses certain compliance,...
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Treasury Department Issues Revised Rules For Reporting Foreign Financial Accounts HIRE Act Requires Reporting on the Federal Income Tax Return of Certain Foreign Financial Assets
The U.S. Financial Crimes Enforcement Network ("FinCEN"), a bureau of the U.S. Department of the Treasury (the "Treasury Department"), issued final regulations in February 2011 to clarify the requirement that certain U.S. persons annually report foreign bank and other...
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