This content is from: United States

US to change transitional-rule deadlines to help FATCA compliance

The US Treasury Department and the Internal Revenue Service (IRS) are to extend the time that certain transitional rules will apply under the Foreign Account Tax Compliance Act (FATCA), in response to worries from foreign financial institutions (FFIs) and withholding agents about how the gradual withdrawal of the rules will affect their ability to comply with the legislation.

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