What Is FATCA?


Summary

This practice note provides an in-depth introduction the Hiring Incentives to Restore Employment Act (HIRE Act) and the Foreign Account Tax Compliance Act of 2009 (FATCA). On March 18, 2010, the HIRE Act was signed into law. The international tax reform provisions in the HIRE Act are limited to provisions regarding withholding and information reporting, and is based on the FATCA legislation introduced in October 2009.