Trusts & Estates Magazine Publishes Article by Dina Kapur Sanna on New Disclosure Rules for U.S. Taxpayers with Foreign Assets
Publisher: Trusts and Estates
March 1, 2012
Dina Kapur Sanna wrote an article for the March 2012 issue of Trusts & Estates magazine that looks at new self-reporting on U.S. taxpayers with respect to their foreign financial assets. The regulations are effective for tax years beginning after March 18, 2010, which means compliance by April 17, 2012, for most affected U.S. individuals. The rules stem from the Foreign Account Tax Compliance Act (FACTA) provisions of the Hiring Incentives to Restore Employment (HIRE) Act, enacted in 2010.