International Tax Transparency: A New Way of Banking

Newly appointed IRS Commissioner John Koskinen has made clear that a top priority for the IRS is eliminating the practice of U.S. taxpayers concealing money in offshore accounts specifically for the purpose of tax evasion. At the U.S. Council for International Business-OECD International Tax Conference held in Washington, DC on June 3, 2014 Koskinen detailed at length the current measures undertaken by the IRS as well as future courses of action to enforce, encourage, and collaborate with banks...