The United States government, stepping up its pursuit of American offshore tax dodgers worldwide, stands to gather an abundance of leads through a bank information – sharing deal between the United States and Switzerland, tax lawyers said on September 3, 2013.

Last week we posted Swiss Banks Agree to Plan to End Past US Tax Evasion Issues which marked a turning point in a lengthy dispute between Bern and Washington, and opened the door for about 100 second-tier Swiss banks to turn over information about American account holders to the U.S. government.

Part of the deal requires Swiss banks to tell Washington about so-called leavers, or U.S. customers who shift assets to other countries. This disclosure will be a powerful tool for U.S. authorities, who started turning up the heat on offshore tax avoidance in 2008.

In a statement last week on the pact, the U.S. Justice Department noted that its tax enforcement activities are global and have included actions undertaken in India, Luxembourg, Israel and Caribbean countries. Read More