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Law boosts foreign income tax reporting requirements (access required)

By: Kimberly Atkins
Published: March 29, 2010

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The new jobs bill signed into law by President Barack Obama this month imposed new reporting requirements on foreign banks and investment firms with American account holders. The Hiring Incentives to Restore Employment Act, or the HIRE Act, will require foreign firms to report the income of American account holders to the Internal Revenue Service. If ...
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