Tag: penalties

By Sanford Millar of MillarLaw A Professional Corporation On Sunday, October 25, 2015

The IRS recently published published an internal guideance on who must report interests in foreign corporations and the penalties for non-compliance. The timing of the guideance is important as the first “information exchange” and “information reporting” under the Foreign Account Tax Compliance Act, “FATCA” occurred September 30,2015.  The IRS and Justice Deptartment will now be … Continue reading Who Must Report Foreign Corporations