FATCA – Foreign Financial Institutions Tax Withholding
Under the new law with respect to each U.S. account (any financial account held by one or more specified U.S. Persons or U.S. owned foreign entities (IRC 1471(d)(1)(A)), the foreign financial institution must provide information about account gross receipts and withdrawals. U.S.-Source investment income is subject to U.S. information reporting and tax withholding.Filed Under Earned Income Tax Credit | Comments Off
Tagged With Earned Income Tax Credit, EITC
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