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U.S. government cracking down on offshore bank accounts through FATCA

Foreign financial institutions will soon be required to report more information about U.S. citizens to the IRS

Want to hide some money from the government? For years, the answer was simple: Put that money offshore! Historically, the U.S. has done little to regulate and enforce laws on offshore accounts.

But now, that mantra is no longer true. Offshore accounts are no longer as safe from the U.S. government’s watchful eye, and regulations are soon to become even tougher.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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