IRS Moves Forward with FATCA Implementation

The Internal Revenue Service (IRS) announced on November 19, 2012, that the US and Denmark have reached an agreement for information sharing to improve tax compliance and implementation of the Foreign Account Tax Compliance Act (FATCA).  This development fits with the Treasury’s earlier announcement that it is negotiating similar agreements with more than 50 countries.  The…

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What FATCA Means to US Citizens Living Abroad

These publications do not constitute legal advice.  Further information regarding this notice. As of 2009, the Internal Revenue Service (IRS) estimated that more than 7 million US citizens live outside of the US. However, according to the IRS’s 2006 data only 669,701, a fraction of the citizen living abroad, filed tax returns claiming exclusion for…

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