Scott Michel to Speak at FATCA Seminar in Kuwait City

Scott D. Michel will speak at a seminar discussing the U.S. Foreign Account Tax Compliance Act and how it impacts foreign financial institutions, investment companies, trust companies, corporates, and high net worth families and individuals, as the due diligence and disclosure provisions of the statute take effect beginning in 2014.. Mr. Michel will describe FATCA's structure and objectives and how it fits into the broader enforcement template being pursued by the U.S. Internal Revenue Service and the U.S. Department of Justice. He will discuss U.S. enforcement methods, including civil and criminal investigations, international information exchange mechanisms, and how FATCA will interact with these existing structures and methods. He will also cover U.S. reporting obligations, the basic operation of FATCA's information disclosure regime and its provisions that may impact affected entities in Kuwait and Kuwaiti high net worth individuals and families with a presence in the U.S.