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In this episode of the Under the Basswood Tree podcast, Basswood Counsel attorneys Rudo Mugwagwa and Gina Lee explain two U.S. cross-border reporting regimes that are often confused: FBAR and FATCA.
The discussion breaks down what each regime is designed to do, how they differ, where they overlap, and why many taxpayers and institutions struggle to understand how the rules fit together.
News and Insights
2026 Tax Deadlines
Tax season brings a complex mix of federal filing deadlines and state compliance obligations that vary by entity and jurisdiction.
2026 FATCA Reporting for Model 2 Funds – IRS Updates and Actions for Fund Managers
The 2026 FATCA reporting season brings important IRS system updates that Model 2 fund managers and Responsible Officers cannot afford
Sending Money Abroad? A Guide to the OBBBA’s Remittance Excise Tax
Beginning in 2026, the OBBBA introduces a 1% excise tax on certain cross-border remittance transfers funded by cash and similar
Understanding the Alternative Minimum Tax Exemption Under the One Big Beautiful Bill Act
The OBBBA modifies the Alternative Minimum Tax by maintaining higher exemption amounts and introducing stricter phaseout thresholds starting in 2026.