U.S., U.K., Australia Teaming Up to Battle Offshore Tax Evasion, IRS Announces

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The United States, Australia, and the United Kingdom have teamed up to fight cross-border tax evasion, the Internal Revenue Service said May 9.
The three countries will share information involving a multitude of trusts and companies hiding assets on behalf of residents in jurisdictions throughout the world, IRS said in the news release (IR-2013-48). That information may also be shared with other nations, the agency said.
The development marks a major milestone in the continuing efforts of the United States to work with other countries to stop tax cheats.
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