The IRS today announced that it has begun exchanging financial account information with foreign tax authorities as part of its implementation of the Foreign Account Tax Compliance Act. The exchanges took place under intergovernmental agreements permitting the IRS to receive information certain overseas tax agencies and certain foreign financial institutions about accounts held by U.S. persons. Some of these agreements also require the IRS to share information about foreign nationals’ accounts in the U.S.
New York Fed: Consumer short-term inflation expectations slip in February
Consumer inflation expectations in February declined at the short-term horizon and remained unchanged at the medium- and longer-term horizons, the Federal Reserve Bank of New York reported in its most recent Survey of Consumer Expectations.
