Shutts tax attorneys Peter Lagonowicz, David Resnick and Pilar Rubio recently presented on the Foreign Account Tax Compliance Act and the Common Reporting Standard at SunTrust Bank's International Wealth Conference.
The presentation detailed the potential application of FATCA and CRS to foreign and domestic financial institutions and the impact on private wealth clients of an evolving global effort mandating tax transparency, reporting and accountability. The FATCA requires reporting of foreign financial assets, while the CRS mandates financial institutions to exchange information.
About Peter A. Lagonowicz
Peter A. Lagonowicz regularly represents high net worth private clients, family offices, funds and other business entities with assets and investments in and outside the United States. He has advised both U.S. and international clients on a wide variety of domestic and cross-border commercial transactions and has also advised foreign and U.S. financial institutions on federal withholding tax obligations and information reporting requirements, including under the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) developed by the OECD.
About David Resnick
David Resnick represents foreign clients investing in the United States and U.S.-based clients investing abroad, as well as assisting clients with general corporate matters, business and tax planning, and state and local tax issues. David also assists foreign and domestic banking institutions, and other foreign entities, with analysis, planning and implementation of the Foreign Account Tax Compliance Act (FATCA). He also provides FATCA training seminars to financial institutions.
About Maria del Pilar Rubio
Maria del Pilar Rubio's practice includes pre-immigration tax planning, tax impact of alternative structures for U.S. and foreign persons and corporate reorganizations. She counsels clients on all aspects of entering into, and complying with, the IRS’ Offshore Voluntary Disclosure Program (OVDP) and Streamlined Filing Compliance Procedures. Pilar also has experience drafting gift and estate tax planning documents including trusts, wills and ancillary documents.