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IRS To Treat 2014, 2015 As FATCA Transition Years

By Ama Sarfo (May 2, 2014, 6:08 PM EDT) -- The Internal Revenue Service is giving financial institutions a buffer period to acclimate to its Foreign Account Tax Compliance Act and will leniently enforce the law in 2014 and 2015 against institutions that make good faith compliance efforts, the agency said Friday....

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