IRS, Treasury Working on Single Model FATCA Agreement

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IRS and the Treasury Department are working on a single model agreement under the Foreign Account Tax Compliance Act in consultation with other countries, a senior Treasury official says. Speaking at the spring meeting of the American Bar Association Section of Taxation, Michael Plowgian, an attorney-adviser in the Treasury Office of Tax Policy, says officials are focusing closely on confidentiality concerns as work on the agreements moves forward.