Overseas Cash Complicated as Shutdown Seen Delaying Deals: Taxes
This article is for subscribers only.
Foreign bank accounts, already under scrutiny by U.S. regulators, have a new set of complications created by the government shutdown.
The rollout of the Foreign Account Tax Compliance Act is tougher with the partial U.S. government closing, which may lead to delays in guidance on the rules and U.S. efforts to negotiate agreements with other countries, Bloomberg BNA reported.