US Treasury Department

Practice

IRS Releases Draft Instructions for ACA Employer Mandate

The US Treasury Department and the IRS on August 28 released draft guidance on the reporting requirements for forms 1094-B and 1095-B, as well as forms 1094-C and 1095-C.
Tax

FATCA Pacts with US Grow as Law Takes Effect

The US Treasury Department said on July 1, the day FATCA went into effect, that nearly 100 jurisdictions and more than 80,000 financial institutions worldwide now have agreements with the United States to fight overseas tax evasion.
Tax

Reports: 77,000 Banks Are Complying with US on FATCA

The list of companies that have registered with the United States includes 515 Russian financial institutions, plus more than 500 US businesses, such as Citibank NA and JPMorgan Chase & Co.
Tax

Treasury Issues Proposed Rules for Information Reporting by Employers and Insurers under Affordable Care Act

On September 5, the US Department of the Treasury and the IRS issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act.
Tax

All Legal Same-Sex Marriages Will Be Recognized for Federal Tax Purposes

The US Department of the Treasury and the IRS on August 30, 2013, ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes.
Tax

US Citizenship No Longer Worth Red Tape and High Taxes for Some

A surprising number of Americans living abroad are giving up and saying "uncle" to Uncle Sam. In quarter two of 2013, more Americans – 1,130 – renounced their citizenship than in all of 2012. That's in addition to 679 in the first quarter.

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