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USA - April 14 2011
On April 8, 2011, in Notice 2011-34 (the "Notice"), the Department of the Treasury (the "Treasury") and the Internal Revenue Service (the "Service") issued supplemental guidance under Sections 1471 through 1474 of the Internal Revenue Code of 1986, as amended, which pertain to the new US withholding regime and information reporting requirements for certain accounts maintained by foreign financial institutions (commonly referred to as the Foreign Account Tax Compliance Act provisions, or the "FATCA provisions").
USA - September 9 2010
On August 27, 2010, in Notice 2010-60 (the “Notice”), the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “Service”) issued preliminary guidance pertaining to the new US withholding regime and information reporting requirements for certain accounts maintained by foreign institutions, commonly referred to as the Foreign Account Compliance Act provisions (the “FATCA provisions”), that were enacted as part of the Hiring Incentives to Restore Employment Act (the “HIRE Act”) on March 18, 2010.
USA - September 24 2009
On September 21, 2009, the Internal Revenue Service (the "Service") issued guidance in the form of Announcement 2009-69 (the "Announcement"), which liberalizes the safe harbor for wind energy partnership flip structures and should eliminate a significant impediment to participation by individuals in such transactions.
USA - February 16 2009
The House of Representatives and the Senate passed the American Recovery and Reinvestment Act of 2009 (the "Act") on February 13, 2009 and President Obama is expected to sign the Act into law on February 17, 2009.
