Two Major Stakeholders Seek Financial Institutions’ Exclusion under FATCA Reporting Rules

Two major stakeholders asked the Internal Revenue Service to exclude a wide range of financial institutions from the broad new reporting, disclosure, and withholding requirements in the Foreign Account Tax Compliance Act (FATCA) in…

Large Canadian Bank Seeks Disclosure Exception for Some Foreign Accounts under FATCA

A major Canadian bank Aug. 11 asked the Internal Revenue Service not to require the disclosure of accounts in foreign jurisdictions that already send detailed tax information to the United States, as the…

Massachusetts Supreme Court Rejects Challenge to Power Lines from Wind Farm

WASHINGTON, D.C.—The Massachusetts Supreme Judicial Court ruled 4-2 Aug. 31 that the construction and operation of transmission lines critical to construction of a 130-turbine wind farm in Nantucket Sound may proceed over the objections of opponents…