The jig is up for secret offshore accounts. In May Credit Suisse pleaded guilty to conspiring to aid U.S. tax evaders. More than 100 other Swiss banks are handing over leads that should eventually out more U.S. tax dodgers. Israeli, Asian and Caribbean banks are all under investigation. Plus, the Foreign Account Tax Compliance Act (FATCA), which took effect July 1, requires foreign financial institutions to report accounts held by U.S. persons to the Internal Revenue Service.
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