IRS Issues Amendments To Foreign Account Tax Compliance Act

Recently, the IRS issued a correction of the amendments to the Foreign Account Tax Compliance Act (FATCA). FATCA was drafted to make foreign financial institutions provide information regarding U.S. accounts. You can see the correcting amendments here.

See Sarah Choi Correcting Amendments to FATCA, Wealth Strategies, Oct.2, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.