“Canadians often feel slighted by their own government when it comes to the big Washington machine down south. It’s about to get worse, now that the two nations inked a tax-information sharing agreement. The broad deal is one of 22 intergovernmental agreements (so-called IGAs) the U.S. has signed to crack down on tax evasion.  FATCA is the U.S. law that requires banks everywhere to pony up information on Americans or face serious sanctions. The sanctions are so bad that virtually every institution or every nation seems to be striking a deal. Indeed, it is not exaggeration to say that banks and countries everywhere are scrambling, trying to appease the U.S. taxing authorities.”

http://www.forbes.com/sites/robertwood/2014/02/07/canada-hungary-sign-u-s-fatca-deals-irs-to-get-data/

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