FATCA

What do FBAR Form 114 and FATCA have in common?

The IRS and Department of Treasury have undertaken multiple steps lately to enforce the FATCA compliance among the US citizens and green card holders. Most US expats are aware of the FBAR form 114 (Report of Foreign Bank and Financial Accounts). However, the FATCA (Foreign Accounts Tax Compliance Act) that...
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Canada FATCA and American Expats living Abroad

February 5, 2014 is a significant milestone in the FATCA development. FATCA stands for the Foreign Account Tax Compliance Act. We provided an extensive coverage of FATCA news affecting American expats living abroad. FATCA discussions have created a lot of controversy in Canada. Moreover, many US-Canadian taxpayers anticipated that Canada...
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Italy FATCA Overview – Foreign Account Tax Compliance Act

Italy is the latest country to join the FATCA club. On January 10, 2014 the United States of America and Italy signed an intergovernmental agreement under the Foreign Account Compliance Act at the headquarters of Italy’s Ministry of Economy and Finance in Rome. Earlier we provided an extensive coverage of...
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FATCA: Cayman Islands and Costa Rica signed the FATCA IGAs

The FATCA pool is expanding every month. At the end of November 2013 two more countries joined the FATCA. The names of these countries will surprise anybody. The Cayman Islands and Costa Rica have become 11th and 12th members of the FATCA circle. The Cayman Islands FATCA and Costa Rica...
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