US announces expanded transition relief for FATCA withholding and information reporting

The US IRS on October 10 released an advance copy of Notice 2014-59, expanding transition relief provided in Notice 2014-33 to withholding agents, foreign financial institutions, and payors that have withholding or information reporting requirements respect to accounts and obligations they open or enter into before January 1, 2015.  See, Notice 2014-59