Timing is everything in life and timing counts in obtaining a GIIN for FATCA. Poor timing can impact opening a bank account, submitting...

The previously announced British Virgin Islands International Tax Authority (BVI ITA) Financial Account Reporting System (BVIFARS)...

The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule  on Friday, March 21, 2025. The interim final rule removes...

Many companies with operations outside of the U.S. have a U.S. limited liability company (LLC) or U.S. corporation as part of their...

You registered your Financial Institution in the U.S. Internal Revenue Service (IRS) FATCA portal. You received a Global Intermediary...

End of CTA / BOI The U.S. Government issued the following press release last night (Sunday, March 2, 2025): Treasury Department Announces...

On February 18, 2025, the U.S. District Court for the Eastern District of Texas eliminated the Smith nationwide injunction. In response,...

Courts The original deadline for entities subject to the U.S. Corporate Transparency Act (CTA) which were formed prior to January 1, 2024...

The U.S. Supreme Court issued the following on January 23, 2025: “Application (24A653) for stay presented to Justice Alito and by him...

The Bahamas Competent Authority announced the FATCA and Common Reporting Standard (CRS) portal will remain open an additional month for...

Your confidence in the American legal system may be going down by the day but there is yet another CTA / BOI legal update. On Thursday...

In a busy day for the Corporate Transparency Act (CTA), the Financial Crimes Enforcement Network (FinCEN) announced tonight (December 23,...

On December 23, 2024, in Texas Top Cop Shop, Inc. v. Garland,  the U.S. Court of Appeals for the Fifth Circuit stayed the preliminary...

On December 3, 2024, there was an unexpected order by the U.S. District Court for the Eastern District of Texas. The court issued a...

On December 3, 2024, there was an unexpected order by the U.S. District Court for the Eastern District of Texas. The court issued a...

On October 28, 2024, the U.S. Internal Revenue Service (IRS) issued Notice 2024-78 which allows certain Model 1 Foreign Financial...

The IRS announced the Public Key for FATCA filing will expire on November 1, 2024. For those financial institutions (FIs) who submit...