FATCA and the broader tax crackdown

As the US government's crackdown on tax evasion continues, change is arriving. The US Foreign Account Tax Compliance Act (FATCA) is now nearly fully operational, as country after country implements intergovernmental agreements effecting its terms within their jurisdictions. FATCA is a powerful new tool--but even as it comes on line, setbacks at trial and in one of the US government's flagship bank cooperation programmes have created uncertainty as to the crackdown's future direction and effectiveness. Foundations navigating this new landscape face a complex and constantly changing enforcement scheme, but this article suggests a number of important data to bear in mind as they craft a path forward.