TITLE

REPORTING FOREIGN ACCOUNTS TO IRS, Extent of Duplication Not Currently Known, but Requirements Can Be Clarified

PUB. DATE
March 2012
SOURCE
GAO Reports;3/29/2012, preceding p1
SOURCE TYPE
Government Documents
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. Government Accountability Office (GAO) report on potential duplicative foreign-account reporting requirements under Foreign Account Tax Compliance Act (FATCA) and Report of Foreign Bank and Financial Accounts (FBAR), and the burden created by it on the Internal Revenue Service (IRS). It also offers some of the methods recommended by the GAO to minimize the problems related to duplication requirements.
ACCESSION #
74093994

 

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