Brazil Enters Into IGA with the United States
Brazil is the latest country to enter into an information-sharing agreement with the United States. Last week, the two nations came together to sign the Intergovernmental Agreement (IGA) and jointly announced the details. What can be gleaned from the announcement is that if you are an American with assets in accounts in Brazil, your financial information will soon be shared directly with the IRS. But the agreement doesn’t end there. If you are a Brazilian national, living in the United States, you are also in the crosshairs, as the IGA will also require the IRS to send financial data on Brazilians back to Brazil’s Finance Ministry. Are you prepared with a criminal tax lawyer?