Obama Administration Supports Rogue IRS Regulation in Order to Please Europeans, Even though It Will Undermine American Banks and Hurt the U.S. Economy

by | Jan 17, 2012 | Blogs, Economics, Tax Competition, Tax Havens, Taxation

I’ve written several times about a proposed IRS regulation that would force American banks to put foreign law above U.S. law. I’ve repeatedly warned that the scheme, which would force financial institutions to report the deposit interest they pay to foreigners, is bad...