Skip to content
Subscriber Only
Opinion
The Editors

New Tax Rules Harass Foreign Bankers for Little in Return: View

Americans already hate the Internal Revenue Service. If Congress has its way, the rest of the world may soon follow.

In an act of hubris that could cost banks around the globe billions of dollars, Congress has directed the IRS to impose new rules requiring foreign financial companies to determine who among their accountholders is an American citizen.