The move is designed to attempt to identify thousands of Americans who are believed to be enjoying a tax scam that could be depriving the federal government of revenues of over $70bn per annum.
There are believed to be around 2000 illegal offshore tax shelters in existence.
American Express & Uncle Sam
Several months of hard negotiating is likely to result in agreement between American Express and the US Internal Revenue Service that Amex will hand over records to the IRS and Justice Department for customers who pay their bills through offshore tax havens.
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