To respond to budget deficits and economic austerity, worldwide taxing authorities are deploying a new weapon: information exchange.
With questions remaining over country agreements, the government has given financial institutions a six-month breather.
The United States, Australia and the United Kingdom set up a tax sharing plan to catch corporate tax evaders. The move could spread to other countries.
Proposed rules for implementing FATCA may have broad implications for U.S. banks.
The Foreign Account Tax Compliance Act has many moving parts. But careful prep work by U.S. firms now could help them avoid costly penalties, some say.
