FATCA: The Ticking Time Bomb
Duration: 84 minutes
Recent banking scandals have exposed the greater need for federal legislation preventing U.S. citizens from hiding their offshore accounts to avoid paying taxes. In 2010, Congress passed the Foreign Account Tax Compliance Act (FATCA) to remedy this problem. The new reporting requirements of FATCA will have a profound impact on U.S. taxpayers and the international finance industry. Presenters William H. Byrnes IV, and Alberto Gil will explain in detail the essential portions of FATCA, its impact on foreign institutions, and inform viewers of when important phases of FATCA go into effect.
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