FATCA: Where Are We Now, and What Next?
Author: Michael Orchowski.; Andrew Solomon.
Source: Volume 28, Number 01, September/October 2014 , pp.17-25(9)
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Abstract:
This article provides a brief overview of FATCA and discusses the progress that has been made to date. It also explains what remains to be done to implement FATCA, and how FATCA’s current effect has been limited by Notice 2014-33 (the “Notice”). Finally, it discusses the future of FATCA and the more general influence that FATCA has had on international information exchange.Keywords: Foreign Account Tax Compliance Act; FATCA; Notice 2014-33; intergovernmental agreements; common reporting standard
Affiliations:
1: Sullivan & Cromwell LLP; 2: Sullivan & Cromwell LLP.