China

Details

  • Service: Tax, US Corporate Tax
  • Type: Business and industry issue, Video
  • Date: 2/15/2012
  • Length: 59:52 Minutes

Speakers

Laurie Hatten-Boyd

Principal, Information Reporting Practice, Washington National Tax

KPMG LLP

 

Carl Cooper

Managing Director, Information Reporting Practice

KPMG LLP

 

Mark Naretti

Managing Director Information Reporting Practice

KPMG LLP

 

Melinda (Mindy) Schmidt

Director Information Reporting Practice

KPMG LLP

 

Robert Alpert

Director, Advisory

KPMG LLP

 

KPMG TaxWatch Webcast: Facing FATCA - An Overview and Business Implications of the Proposed Regulations 

KPMG TaxWatch Webcast: Facing FATCA - An Overview and Business Implications of the Proposed Regulations

 

 

On 8 February 2012, Treasury and the IRS released proposed regulations for the Foreign Account Tax Compliance Act (FATCA). Since FATCA enactment in March 2010, the IRS has issued several rounds of guidance, but the regulations have been much anticipated by taxpayers that will be affected by the new FATCA withholding and reporting regime. In this webcast, KPMG professionals discuss the proposed FATCA regulations with members of the IRS FATCA Working Team and participating drafters of the regulations.

 

 

Disclaimer

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

 

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TaxNewsFlash

Since the enactment of the Foreign Account Tax Compliance Act (FATCA) in March 2010, the IRS issued several rounds of preliminary guidance prior to the release of proposed regulations on February 8, 2012. KPMG has prepared an analysis that examines these provisions.

 

The Treasury Department and IRS released for publication in the Federal Register proposed regulations (REG-121647-10) as guidance concerning information reporting by foreign financial institutions for U.S. accounts.

 

The IRS released an advance copy of Notice 2011-53 which provides a timeline for the implementation of information reporting and withholding provisions under chapter 4 of the Code (referred to as "FATCA").