Turning the Tide: The US Addresses Its Role as a Tax Haven

The U.S. banking system and other U.S. investments such as real estate are prime targets for people seeking to evade the tax systems of their home countries and for people trying to hide the proceeds of unlawful conduct. Kathryn Keneally and Michael Scarduzio discuss some of the new tools and long-standing legal principles the government is using to implement new disclosure requirements and conduct investigations aimed at the use of U.S. entities, bank accounts, and investments to evade foreign taxes.