The Financial Crimes Enforcement Network (“FinCEN”) is issuing these FAQs to assist covered financial institutions in understanding the scope of the Customer Due Diligence Requirements for Financial Institutions,” published on May 11, 2016 (the “CDD Rule”), available at https://www.gpo.gov/fdsys/pkg/FR-2016-05-11/pdf/2016-10567.pdf . These FAQs provide interpretive guidance with respect
Read more →“The Internal Revenue Service (IRS) has spent millions of dollars getting ready for FATCA and is still not prepared for the new law that goes into effect this July,” says the Treasury Inspector General for Tax Administration. Does this shock you? FATCA (Foreign Account Tax Compliance Act)
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