The United States has signed an anti-tax-evasion agreement with France, the 10th country to join a U.S. global program that goes into effect next summer, the U.S. Treasury said Thursday. The Foreign Account Tax Compliance Act (FATCA), enacted in 2010, will require financial institutions abroad to disclose Americans' offshore accounts worth more than $50,000 to the tax-collecting U.S. Internal Revenue Service. To implement the program worldwide, the Treasury is negotiating intergovernmental agreements (IGAs) with more than 50 countries. The United States has signed nine other IGAs with Mexico, Japan, and seven European countries.
