I.R.S. Aims to Give Teeth to a Program Meant to Counter Offshore Tax Avoidance

Lynnley Browning writes that the IRS intends to look closer at offshore banking customers to ensure they are paying their US taxes.The program is called Qualified Intermediary, and has been working with foreign banks since 2001recieving taxes that the banks withhold in exchange for bank client’s privacy. The full nytimes.com article can be read here.