Wire Transfer Audits and FATCA: What Every Taxpayer Needs to Know

Wire Transfer Audits and FATCA

What Every Taxpayer Needs to Know

1. FATCA

FATCA: The Foreign Account Tax Compliance Act[1] was signed into law by President Obama on March 18, 2010. There are two purposes for FATCA.

  1. The United States government began to track the movement of funds as anti-money laundering and national security measures in the 1970’s.FULL ARTICLE https://www.jdsupra.com/legalnews/wire-transfer-audits-and-fatca-what-22892/

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