Less Reverence For 'Grandfathers' Possible From Fatca
The newest wrinkle to emerge in preparation for compliance with the US Foreign Account Tax Compliance Act (Fatca) is the possibility that certain securities that had been exempt under "grandfather" clauses in the Act, could suddenly be subject to the rules if any change deemed a "material modification" is made.
The US Internal Revenue Service (IRS), which administers Fatca, hasn't offered much "prescriptive" guidance yet for Fatca compliance, which leaves uncertainty about the issue of
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