The Obama Administration says this regulation is part of a global effort to improve tax compliance.
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Guernsey has already committed to signing up to the US Foreign Account Tax Compliance Act.
And FATCA, the Foreign Account Tax Compliance Act, is changing the world even more.
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It is a tax compliance law which allows the UK to access its residents' Jersey-based accounts.
The nation has long prided itself on having high "voluntary" tax compliance, compared with, say, Italy.
It is in this area that the Foreign Account Tax Compliance Act rears its head.
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First, the U.S. already has one of the highest tax compliance rates in the industrialized world.
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But the Europeans appear to be ratcheting up their tax compliance efforts as well.
The island's governments are jointly negotiating a tax compliance agreement with the United States of America.
BBC: Guernsey, Jersey and the Isle of Man to sign US tax deal
Tax compliance is using those allowances in the manner that the politicians intended they be used.
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U.S. is engaging with more than 50 jurisdictions in its international tax compliance push.
The agreement followed the introduction of the Foreign Account Tax Compliance Act (FATCA) in the United States.
From a practical standpoint, it would narrow the focus of the Internal Revenue Service for tax compliance.
The Feds have 1, 500 people (only about 2.5% of the IRS's workforce) devoted to international tax compliance.
If tax compliance were an industry, it would be one of the largest in the United States.
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There can only be tax evasion, a criminal matter, or tax compliance, which is obeying the law.
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Another example of how criminals change tax codes is the 2010 Foreign Account Tax Compliance Act (FATCA) initiative.
The panel's findings are the result of a six-month investigation into tax haven banks and offshore tax compliance.
Officials have met members of the UK government to talk about the Foreign Account Tax Compliance Act (FATCA).
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That is, there is only tax compliance or tax evasion: there is no such thing as tax avoidance.
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You can take such things any way you wish although I would call them simple and straight tax compliance.
That is a terrible thing for tax compliance, '' Olson said in an interview.
Last month the UK signed up to the Foreign Account Tax Compliance Act.
BBC: Guernsey, Jersey and the Isle of Man to sign US tax deal
Tracey April Pickin, assistant director at Public Bodies Group, HM Revenue and Customs, London, for services to tax compliance.
Also supporting the bill is Internet giant Amazon, which coincidentally now sells its own tax compliance service to other merchants.
Mr. Cain answered, that his plan was unrelated to state tax policy, so it would not upset state tax compliance.
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The uptick in enforcement is all for the greater good of maintaining a voluntary tax compliance system, the report says.
If a risk-based assessment reveals suspicions of a lack of tax compliance, financial intermediaries are to refuse to accept assets.
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We also all know what tax compliance is, obeying the law just as the politicians expected and hoped you would.
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Firms are being asked what they think of the UK plans to introduce a Foreign Account Tax Compliance Act (Fatca) law.
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