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UNITED STATES FOREIGN ACCOUNT TAX COMPLIANCE ACT ( FATCA ):. REPORT ON THE WAY FORWARD. On March 201 the US.

It aims to reduce tax evasion by US persons using financial accounts outside the . Common US IRS Tax Questions 1099-K, B-Notice, and FATCA. All US payment processors, including PayPal, are required by the Internal Revenue Service(IRS). According to FATCA , we have to identify our possible US taxpayer customers, . FATCA is a US law and regulation to improve tax compliance on US Persons, their foreign financial assets and offshore accounts.

Foreign Accounts Tax Compliance Act ( FATCA ) was published by the United. Under FATCA , US Persons . It requires non- US financial institutions to provide reports to .