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    South Korea puts local FATCA legislation in place

    Under the terms outlined in the proposed bilateral Model 1 intergovernmental agreement (IGA) for South Korea's compliance with the Foreign Account Tax Compliance Act (FATCA), the country has implemented local regulations to…

    House voted to cut IRS enforcement budget

    On July 14, the U.S. House of Representatives voted to reduce the IRS' budget, and a part of the cut affects the agency's enforcement funding. The overall budget will be…