Foreign Regulators May Bargain Before US Tax Cheat Law

Law360, New York (January 18, 2013, 7:06 PM EST) -- The U.S. Treasury Department on Thursday finalized tough new rules designed to stop offshore tax evasion, a long-awaited step that may spur some foreign governments to negotiate more favorable terms for their banks to hand over account information to U.S. authorities.

Countries that have been negotiating intergovernmental agreements regarding reporting of tax evaders with the United States may push to complete agreements before the final Foreign Account Tax Compliance Act rules take effect to tailor the agreements to meet local needs, according to Aidan J. Delgado...
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