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Research Center : Article

Feb 01,2012 | Baker & McKenzie

Under New US FATCA Rules, Some US Employees Need to Report the Value of Non-US Equity Compensation, Deferred Compensation and Pension Benefits on their 2011 US Individual Income Tax Returns

The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 as part of the US Hiring Incentives to Restore Employment (HIRE) Act and is intended to combat tax evasion by US taxpayers holding non-US assets. FATCA has two prongs. The first prong, which to date has received the most publicity, aims to reduce tax evasion by requiring non-US financial institutions annually to report directly to

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