High Inaccuracy Rate Seen in FATCA Filings

Less than half of filings for the Foreign Account Tax Compliance Act have been accurate, according to a new survey.

The survey, conducted by the Aberdeen Group on behalf of the software company Sovos Compliance, polled leaders at 100 different financial institutions and found that only 44 percent were accurate.

“These 100 survey respondents self-reported that only 44 percent of

FULL ARTICLE http://www.accountingtoday.com/news/tax-practice/high-inaccuracy-rate-seen-in-fatca-filings-79001-1.html

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