FATCA Essentials

FATCA - Essentials

Plan for - Rather Than React to - the Evolving Landscape of FATCA

FATCA Essentials on Checkpoint delivers all the FATCA guidance and materials you need to efficiently prepare for today’s compliance requirements, as well as plan for the evolving developments of tomorrow.

The Challenge

Enacted in 2010 as part of the Hiring Incentives to Restore Employment Act of 2010 (P.L. 111-147) (“HIRE Act”), the Foreign Account Tax Compliance Act (FATCA) is an effort by the IRS to improve reporting compliance of U.S. taxpayers who have foreign financial assets and offshore accounts.

The new FATCA reporting requirements are extensive, and are expected to impact US corporations and high wealth individuals with offshore financial holdings, as well as financial Institutions outside the US. In January 2013, the IRS issued the FATCA final Regulations, which clarified certain issues and responded to comments made in response to the 2012 Proposed Regulations. In addition, the IRS has entered into intergovernmental agreements (IGA’s) with tax authorities in other jurisdictions to ease the implementation of FATCA. Although a compliance date has been established, the parameters of FATCA are far from complete.

The Solution

FATCA Essentials brings together in one place all the expert guidance and relevant primary source materials you need to understand the new FATCA reporting rules, determine whether your company or clients are subject to FATCA compliance, and how to comply with the FATCA rules.

FATCA Essentials provides detailed analysis from recognized international tax experts, comprehensive coverage from over a dozen international tax journals, daily coverage of new developments, and a comprehensive collection of primary source materials, all of which combine to streamline your FATCA research

With all of these resources at your fingertips, you’ll be fully prepared for the reporting and withholding deadlines, as well as the complexities and evolving requirements of FATCA.

FATCA Essentials includes the following resources on Checkpoint:

Editorial Analysis:

  • Federal Tax Coordinator 2d (RIA)
  • International Taxation: Withholding (WG&L), Marnin J. Michaels

Primary Source Material:

  • Internal Revenue Code Sections 1471-1474
  • Final Regulations, TD 9610, January 17, 2013
  • Committee Reports
  • IRS Notices
  • Model intergovernmental agreements (IGAs)
  • Country IGAs
  • Joint statements
  • IRS forms and instructions

Topical Coverage from WG&L and World Trade Executive Journals:

  • Journal of International Taxation (WG&L)
  • Journal of Taxation (WG&L)
  • Derivatives: Financial Products Report (WG&L)
  • Corporate Taxation/Journal of Corporate Taxation(WG&L)
  • Business Entities (WG&L)
  • Latin American Law & Business Report (WTE)
  • Practical Asian Tax Strategies (WTE)
  • Practical China Tax and Finance Strategies (WTE)
  • Practical European Tax Strategies (WTE)
  • Practical International Corporate Finance Strategies(WTE)
  • Practical International Tax Strategies (WTE)
  • Practical Latin American Tax Strategies (WTE)
  • Practical Mexican Tax Strategies (WTE)
  • Practical Trade & Customs Strategies (WTE)