Russell McVeagh | New Zealand | 7 Sep 2012
The essence of these provisions is to ensure that, as between payer and payee, the burden of FATCA withholding rests with the payee.
Mayer Brown | USA | 23 Sep 2011
On March 18, 2010, the U.S. government adopted the “Hiring Incentives to Restore Employment Act”.
Alston & Bird LLP | USA | 15 Sep 2011
On September 2, 2011, the IRS and the Department of Treasury released the 2011–2012 Priority Guidance Plan (“Plan”) listing the topics on which they intend to publish formal administrative guidance between July 2011 and June 2012.
Ropes & Gray LLP | USA | 26 Aug 2011
The Internal Revenue Service (IRS) has issued Notice 2011-53 (the “Notice”), which provides a modified timeline for the implementation of the new reporting and withholding requirements enacted by the Hiring Incentives to Restore Employment Act of 2010 (the “HIRE Act”).
Gibson Dunn & Crutcher LLP | USA | 9 Aug 2011
The Hiring Incentives to Restore Employment Act, in an effort to reduce the evasion of U.S. tax obligations through the establishment of accounts at foreign financial institutions or by holding assets through other, nonfinancial foreign entities, included the provisions that are now commonly referred to as FATCA.
Eversheds Sutherland (US) LLP | USA | 18 Jul 2011
On July 14, 2011, Treasury and the Internal Revenue Service (IRS) released Notice 2011-53 (the Notice), which provides transition rules for implementation of the Foreign Account Tax Compliance Act (FATCA).
Alston & Bird LLP | USA | 15 Jul 2011
The Hiring Incentives to Restore Employment Act (the 2010 HIRE Act) enacted new disclosure requirements (by adding new Section 6038D to the Internal Revenue Code) for tax years beginning after March 18, 2010.
Proskauer Rose LLP | USA | 29 Jun 2011
On June 21, 2010, the U.S. Internal Revenue Service (the “IRS”) issued Notice 2011-55 (the “Notice”), providing temporary relief from certain information reporting requirements imposed under the Hiring Incentives to Restore Employment Act (the “HIRE Act”).
Pillsbury | USA | 1 Jun 2011
On April 7, 2011, the U.S. Department of Justice petitioned the District Court for the Northern District of California to allow the Internal Revenue Service to serve a "John Doe" summons on U.S. affiliates of HSBC Holdings plc, seeking to determine whether U.S. residents are using accounts at the bank's facilities in India to evade U.S. taxes.
Stikeman Elliott LLP | Canada, USA | 30 May 2011
FATCA describes certain provisions of the United States Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law by President Obama in March 2010.