2009 — A Year of Increased Focus on International Tax Reporting
68-3 New York University Annual Institute on Federal Taxation 3, 2010
15 Pages Posted: 14 Jul 2015
Date Written: January 1, 2010
The Internal Revenue Service (“IRS”) and the Treasury Department require the reporting of detailed information concerning a broad array of foreign transactions. These reports and forms enable the IRS to obtain information that is useful for tax, regulatory and investigative purposes. The year 2009 saw increased attention to these forms from the IRS, the judiciary, the legislature, President Obama and the press. This article discusses these developments and considers what may happen in this evolving area in the future.
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