AccounTax Zone – One solution to All Accounting Concerns

AccounTax Zone is the world’s leading accounting firm that offers clients end-to-end accounting solutions at the most competitive rates in the industry, no matter where they are located or what size of firm they represent. With us, all your accounting concerns will be handled by our highly trained and experienced team of certified accountants.

Our services range from tax advisory to bookkeeping to business advisory and more, so whatever your accounting needs are, we have them covered! Give us a call today to discover how much better your business can be with AccounTax Zone!

Work with Experts

In today’s world, accounting is not as simple as adding and subtracting. If you own a business and need help with your taxes, get professional advice from experts. AccounTax Zone gives you access to experienced accountants who are committed to helping you improve your financial well-being.

Whether you need tax planning advice or assistance with year-end bookkeeping, we can help. We can also handle all of your accounting needs such as record keeping, payroll services and more.

Free Consultation

Tax season is one of those times of the year when people are scrambling, trying to ensure they get everything taken care of in a timely manner. Some seek out help but don’t know where to look. Other accounting firms charge an arm and a leg for services that can easily be provided by AccounTax Zone without breaking your budget.

Think of us as an extension of your team: when it comes time for your

, consider us as an option. We offer free consultations so you can see what we have to offer before committing. If you decide we aren’t right for you, no hard feelings – just drop us a line and let us know how we can better serve you next year!

Tax Season Savings

It’s that time of year again when we all start thinking about tax returns and filing deadlines. This can often cause people anxiety, as they don’t know where to turn for help. If you need some accounting assistance anywhere, look no further than AccounTax Zone — they have qualified accountants who can assist you with your taxes, leaving you stress-free. Check out their site today and see what they can do for you!

The Best Reviews

We are a tax services firm based in London. We have helped thousands of businesses with their tax requirements and have received rave reviews from our clients. Our client portfolio includes restaurants, real estate developers, manufacturing companies and many more! If you’re looking for a reliable tax service provider, then look no further than AccounTax Zone. Contact us today for a free consultation!

A+ Customer Service

Accountants are often associated with terms like accounting and taxes, but at Accountax Zone we believe our accounting services should include all your needs! Our friendly customer service representatives are ready to take on even your most difficult questions.

No matter what you need help with, our trained staff is here for you. We’re not just an accounting firm; we’re a resource for all of your financial needs. From payroll to tax preparation and everything in between, let us be there for you every step of the way.

The Foreign Account Tax Act (FATCA) is a U.S. federal law enacted in 2010 under the Employment Incentive Program (HIRE) to improve tax transparency and tax revenue. The ruling requires all non-US financial institutions (banks, funds, brokers, trustees, asset managers, insurance companies, etc.) to seek the papers of any registered American and disclose their assets to the US Treasury Department. .

There are thousands of Americans with non-US assets, such as smart investors, dual citizens, or legal immigrants. FATCA seeks to obtain information about them and bring them to the US tax network. According to debates in the US Congress, the United States loses about $100 billion annually as a result of tax evasion and fraud to citizens outside the US.

By law, all financial institutions must comply with FATCA requirements or pay a 30% penalty on certain types of income from US sources.

The implementation of FATCA has changed since the rules were issued, but it is clear that the implications of this new regime are wider for foreign financial institutions.

Financial institutions have experienced or are experiencing a number of practical implications when implementing FATCA. These influences fall into two categories of the board of directors: (a) on business models/operations and (b) on information technology (IT) systems.

(A) Impact of FATCA on business models

FATCA affects many aspects of any FI business. This requires financial institutions to assess the impact on their operations, register with the Internal Revenue Service (IRS), and develop a detailed implementation framework. The most important thing is to convert the account opening documents (account opening forms, AML/KYC forms, conditions, etc.) into new clients in accordance with FATCA rules.

Financial institutions should conduct a detailed impact assessment to determine the impact of FATCA and develop appropriate response strategies.

As FATCA aims to disclose information to financial institutions, it also enforces changes to existing data privacy and discloses the relevant jurisdiction.

(I) Does FATCA harm financial institutions?

Under FATCA, different financial institutions have different requirements depending on the respective legal entity of the financial institution. To comply with FATCA requirements, financial institutions must conduct a legal entity analysis to understand their obligations under FATCA. Financial institutions must be audited in accordance with the instructions issued by the relevant government authorities and FATCA rules.

By Arslan Shah

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