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U.S. Requires Banks to Report Interest Paid to Foreigners
David Marchant
Posted: Wednesday, April 18, 2012 10:21 AM
Joined: 9/13/2007
Posts: 443


The Wall Street Journal: The Treasury Department and Internal Revenue Service released final rules requiring U.S. financial institutions to begin reporting to the government the interest payments they make to foreigners.

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On Correspondent Bank Accounts ... the Achilles Heel of Offshore Banking
Dan Reeves
  If you blinked, you probably missed the news.  On January 29, 2013, a federal judge sitting in New York City authorized the IRS to issue a John Doe summons to UBS AG in Stamford, Connecticut for the correspondent bank records of Wegelin Bank of Switzerland and at least two other Swiss banks that nested their