New deal to expose more U.S. tax evaders

American authorities will have access to a new trove of information on tax evaders thanks to a recent U.S.-Switzerland deal to share banking information, reports Reuters.

Last week Switzerland agreed to give American authorities details on U.S. customers who move their assets abroad to hide their assets, Reuters adds. Switzerland has already handed over information from its largest banks. The new deal covers smaller institutions.

Also read: IRS offers six-month relief from FATCA

OECD targets tax evasion

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The staff of Advisor.ca have been covering news for financial advisors since 1998.