The U.S. IRS and Treasury have issued the final Regulations Relating to Withholding and Reporting Tax on Certain U.S. Source Income Paid to Foreign Persons, which were published in the Federal Register on 2 January 2020. The final regulations replace temporary FATCA regulations issued at the end of 2016, with amendments to reduce taxpayer burdens under the regulations.
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SUMMARY:
This document contains final regulations that provide guidance on certain due diligence and reporting rules…