Compliance Matters: US reciprocity under FATCA to improve? Perhaps the US will join CRS

By Stanley Foodman

On May 5, 2016, Secretary of Treasury – Jacob J. Lew – wrote to the Honorable Paul D. Ryan (Speaker, US House of Representatives) regarding effective tools for countering tax evasion. Mentioned in this letter, is the Foreign Account Tax Compliance Act (FATCA) that was enacted in 2010 as a critical tool for combating tax evasion.

FATCA provides

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