Canada shares almost a million bank records with the IRS under FATCA

The Canada Revenue Agency (CRA) has sent 900,000 financial records belonging to Canadian residents to the US Internal Revenue Service in September, a sharp increase for the 2018 tax year, Canadian national news broadcaster CBC has reported. The number of financial records of Canadian residents being shared with the IRS has risen steadily since the information sharing agreement began — from 150,000 in 2014 to 300,000 in 2015 and 600,000 for the 2016 tax year. Since 2014, details of over ...