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U.S. Treasury Publishes Audit Report Finding that Additional Actions Are Needed to Address Non-Compliance Under FATCA

|Approved Changes|United States
United States

The U.S. Treasury has published an audit report from the Treasury Inspector General for Tax Administration (TIGTA) that was issued on 7 April 2022 and provides an assessment of the IRS's efforts to use information collected under FATCA to improve taxpayer compliance. The report notes that due to resource limitations, the IRS has significantly departed from its original comprehensive FATCA Compliance Roadmap in favor of a more limited compliance effort. As part of its effort, the Large Busine…

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