IRS Chief Says Banks May Help Shape Offshore-Account Rules

June 2nd, 2009

Wall Street Journal

WASHINGTON – IRS Commissioner Doug Shulman said the agency will consult closely with banks in implementing new proposed stricter reporting and withholding requirements on transfers of money offshore.

In a Tuesday speech, Shulman said he understood the proposals will demand resources from financial institutions and said IRS would make the banks “partners” in putting tougher rules in place.

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