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Foreign Account Tax Compliance Act (FATCA) means increased disclosure requirements, penalties and audit periods

  • Holland & Knight LLP
  • -
  • USA
  • -
  • July 9 2010

While the name changed from the Stop Tax Haven Abuse Act (Abuse Act), which was first introduced on February 17, 2007, to the Foreign Account Tax Compliance Act (FATCA), which became effective on March 18, 2010, the intent remained the same