“The Obama administration may soon ask Congress for the power to require more disclosure by U.S. banks of information about foreign clients’ accounts to those clients’ home governments, as part of a crackdown on tax evasion, sources said. The information-sharing effort stems from a fight by the Treasury Department against offshore tax evasion under the Foreign Account Tax Compliance Act, or FATCA, adopted in 2010 and set to begin taking effect at the end of 2013. At the heart of FATCA is a law requiring more disclosure by non-U.S. banks of information about Americans’ accounts to the Internal Revenue Service.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Even When Politicians Are Right, They’re Still Wrong
The anti-pizzeria mob loses its mind
Justice Department won’t bring charges over CIA interrogations
Americans Acclimated to Presence of Military on the Streets
Police Commandeer Homes, Get Sued
Bitcoin Payment Service Helps Greek Businesses Avoid Capital Controls
TSA Union President Wants Arrest Powers For TSA Officers
A Large Grocery Store Accepts our Bitcoin!
Median CPI Up 0.1% in October
Sen. Blumenthal Wants You To Know Train Safety Is Very Important
Additional $2.1M Seized from Mt. Gox Accounts – Now Over $5M Total
Americans Can Still Benefit from Tax Havens
CNY Challenges EUR For Second Largest Bitcoin Exchange Volume
NYC goes Tokyo: Micro apartments proposed as solution to overcrowding
China dumped a huge amount of gold on the market and investors are spooked