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Government Readies for Regulatory Push to Implement Rules on Foreign Financial Institution Reporting

March 9, 2010 in Daily Tax Report · Leave a Comment 

The government is preparing for a major regulatory effort to implement broad new requirements for foreign financial institutions to report and disclose U.S. owners of assets and accounts, with legislation to put those provisions into place expected to be enacted shortly, Internal Revenue Service Associate Chief Counsel (International) Steven Musher said…

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