IRS Issues Notice 2010-60 which Provides Preliminary Guidance Regarding Priority Issues Involving the Implementation of FATCA
Global FATCA Development
On August 27th, the Internal Revenue Service issued Notice 2010-60, “Notice and Request for Comments Regarding Implementation of Information Reporting and Withholding Under Chapter 4 of the Code.”
This is the first step towards the ultimate issuance of Regulations that further clarify the scope and implementation of Foreign Account Tax Compliance Act (FATCA).
An analysis of this Notice will coming soon. A copy of Notice 2010-60 can be found by clicking here.