Israel, the Republic of Korea and Saint Lucia Will Now Provide IRS Information On Bank Interest Paid to Nonresident Aliens

By | Tax Controversy Sentinel | December 20, 2016

The IRS released an advanced version of Revenue Procedure 2016-56 that requires three more countries – Israel, the Republic of Korea and Saint Lucia – to participate in the automatic exchange of information on bank interest paid to nonresident alien individuals for interest paid on or after January 1, 2017.

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