New Jersey Tax Evasion Attorney Discusses India’s Acceptance of FATCA
Offshore Account UpdatePosted in on November 27, 2015
The United States government requires U.S. citizens to report all of their offshore investments and accounts, even when citizens live abroad and have accounts in the location where they reside. Annual reports of offshore accounts must be filed according to the requirements set forth in the Foreign Account Tax Compliance Act (FATCA). To ensure no accounts slip through the cracks and that the government is aware of all accounts owned by U.S. citizens, the government has also been moving forward with establishing intergovernmental agreements for the exchange of information under FATCA.
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