Anti-Tax Evasion Law Delayed Six Months To Aid Compliance

Law360, New York (July 12, 2013, 6:17 PM EDT) -- Foreign financial institutions, including banks and insurers, will have six months longer before requirements of a federal rule aimed at thwarting U.S. tax dodgers who hide their wealth overseas kicks in, the U.S. Department of Treasury said Friday.

The implementation of the Foreign Account Tax Compliance Act will be delayed six months and start in July 2014, so that foreign financial institutions will have more time to make sure they comply, according to a statement by the Treasury Department. The extension will also allow the U.S....
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