Also written by Michael Cohn:
IRS Provides Procedures for Changing Accounting Method for Retail Inventory
x hide permanently

IRS Opens FATCA Data Exchange Service

Accounting Today

The Internal Revenue Service has introduced an International Data Exchange Service that financial institutions and tax authorities in other countries will use to report tax information under the Foreign Account Tax Compliance Act, or FATCA. Financial institutions and host country tax authorities will use IDES to securely send their information reports on financial accounts held by U.S. persons to the IRS under FATCA or pursuant to the terms of an intergovernmental agreement, as applicable.