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The U.S. Treasury released Announcement 2014-17 under FATCA, broadening the scope of when an intergovernmental agreement is considered to be in effect.

Regular readers have long heard me arguing that the current voluntary disclosure programs for Americans abroad are overly complex.

The ruling of the second US Circuit Court of Appeals in a recent case has resolved one particular uncertainty while retaining a versatile and open-ended approach to assessment of the criteria which govern Chapter 15 relief.

The IRS announced that foreign entities that must be FATCA-compliant by July 1, 2014 now have until June 3, 2014 to register with the IRS.

The IRS recently issued Notice 2013-69, providing additional guidance on the implementation of FATCA.

FATCA is intended to make it more difficult for U.S. taxpayers to conceal assets held in offshore accounts.

From 1 January 2017, jurisdictions that have not brought their Intergovernmental Agreement (IGA) into force will no longer be seen to have an IGA, in the eyes of the US Department of Treasury.

Whether you are based in the US or not, it’s likely you will be touched by FATCA, says our expert.

On June 18, 2014, the IRS unveiled significant changes to both Offshore Voluntary Disclosure Program (OVDP) and Streamlined Filing Compliance Procedures (SFCP).

On August 6, the Governor of Ohio issued an Executive Order prohibiting the use of State funds for offshore services. This is the first such assertion by a State, and it comes just weeks after the U.S. passed national legislation that sharply increases H-1B and L-1 visa fees, a move that was perceived as discriminatory against the Indian outsourcing industry.

Any U.S. taxpayer with a financial interest in a foreign bank account is required to file the FBAR form if the aggregate value of the account exceeded $10,000.

Many of you have asked me to tell you a story about Bob Popeo, one of the greatest lawyers of the modern era.