IRS Requests Comments On Implementation Of Foreign Account Tax Compliance Act.

Part IV -- Items of General Interest

On March 18, 2010, the Hiring Incentives to Restore Employment (HIRE) Act of 2010, Pub. L. 111-147 (H.R. 2847) was enacted into law. Subtitle A of Title V of the HIRE Act (Subtitle A) made a number of changes to the tax law to improve tax compliance with respect to foreign accounts and cross-border transactions and authorized the Secretary to promulgate guidance to implement these changes.

The Treasury Department and the IRS request comments from the public regarding guidance projects and issues concerning the interpretation and implementation of Subtitle A. Send submissions to: CC:PA:LPD:PR (REG-146097-09), room 5203, Internal Revenue Service, PO Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand-delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (NOT-112379-10), Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 or sent electronically via the Federal eRulemaking Portal at www.regulations.gov (NOT-112379-10).

The principal author of this announcement is Kathryn T. Holman of the Office of Associate Chief Counsel (International). For further information regarding this announcement contact Kathryn T. Holman at (202) 622-8556 (not a toll-free call).