Upcoming FATCA regulations released
US Investors: Upcoming FATCA regulations released
This is one of the more important things for US investors and the rest of the financial system as well. Eager copy cats will follow in the continuing scramble for tax money to hide the official Ponzi schemes.
The US Treasury and Internal Revenue Service has finally issued the regulations on how FATCA (Foreign Account Tax Compliance Act) will be implemented. The report thus explains how non US financial institutions will need to make the final preparations for collecting data on their American account holders. FATCA is set to start in January 2014 and is aimed at cracking down on American taxpayers who make use of foreign accounts to avoid their US tax liabilities.
See the text in the likned pdf below.