Moving Money Offshore, Know FATCA

Posted on 05.18.12

As part of the Hiring Incentives to Restore Employment (HIRE) Act enacted in 2010, the U.S. created the Foreign Account Tax Compliance Act (FATCA) in effort to curtail tax evasion by U.S. persons investing assets in offshore accounts.  FATCA affects both the U.S. Persons investing offshore as well as the Foreign Financial Institutions in which they invest.

Read more here: FATCA

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

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