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Withholding Rules Applicable To Foreign Persons Investing in the U.S. Through Pass-Through Entities
Posted by Chrissy Hammond on Fri, Aug 19, 2011 @ 04:29 PM

It has been well publicized that both Congress and the Internal Revenue Service (“IRS”) in their ongoing effort to raise revenues have focused on international tax compliance.  This is evidenced by the recently enacted Hiring Incentives to Restore Employment Act (“HIRE”),  the Foreign Account Tax Compliance Act of 2009 (“FATCA”) and other measures such as the recently announced 2011 Offshore Voluntary Disclosure Initiative (“OVDI”).  In general, these changes attempt to increase international tax compliance through a combination of additional reporting requirements imposed upon U.S. persons, enhanced penalties for noncompliance, and other measures such as extending the statute of limitations for failure to file certain forms.  Therefore, it is more important than ever to understand and comply with the various reporting requirements, filings, etc. 

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Topics: IRS, Foreign, withholding rules, pass-through

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