Friday, July 26, 2013
IRS Delays Implementation of Key FATCA Provisions
On July 12, 2013, the IRS released Notice 2013-43, which delays for six months the implementation of withholding, reporting, and due diligence requirements under the final regulations of the Foreign Account Tax Compliance Act (FATCA). (Read a discussion of the FATCA provisions and an analysis of the final regulations, which were released in January 2013 and extended some of the original due dates.)
The effective date of the withholding obligations is delayed from Jan. 1, 2014, until July 1, 2014. The date for which new account opening procedures are required to be in place also has been extended until June 30, 2014.
To read the full article click here
Source: John M. Kelleher, http://www.crowehorwath.com
Creative Financial Staffing (CFS) is the nation’s largest, privately-held accounting and financial staffing firm. We provide qualified accounting and finance professionals on a temporary and permanent basis across a broad range of industries.
Visit our website: http://www.cfstaffing.com/