OCTOBER 31, 2013
The IRS has released a document that provides guidance for foreign financial institutions of their responsibilities under agreements governed by the U.S. Foreign Account Tax Compliance Act.
Accounts payable and other finance professionals who handle tax reporting specialties have been watching closely as new details are released about the new FATCA measure.
This latest IRS memo, Notice 2013-69, includes a draft copy of the FFI agreement, which will be finalized before Dec. 31. Notice 2013-69 will be published in Internal Revenue Bulletin 2013-46 on Nov. 12.