WASHINGTON - The Treasury Department says 77,000 foreign banks have agreed to share information about U.S. account holders as part of a crackdown on offshore tax evasion.
The list released Monday includes 515 Russian financial institutions. Russian banks had to apply directly to the Internal Revenue Service because the U.S. broke off negotiations with Russia over an information-sharing agreement because of Russia's actions in Ukraine.
Nearly 70 countries have agreed to share information from all their banks as part of a U.S. law that targets Americans hiding assets overseas.
Under the law, foreign banks that don't agree to share information with the IRS face steep penalties when doing business in the U.S.
Will California face crop shortages?
California will go a second year without federal water for farmers. The state has been in a drought for four years, which could cause crop shortages.
Congress averts Homeland Security shutdown
In a down-to-the-wire vote, the House passed a measure to keep the Department of Homeland Security funded for another week.
Hoosiers say ATF proposal is 'backdoor politics'
New rules proposed by the Bureau of Alcohol, Tobacco and Firearms would reclassify one of the most popular types of ammunition used in AR-15…
Mexico captures notorious drug lord 'La Tuta'
Mexican authorities have arrested Servando Gomez Martinez, a former teacher who headed the Knights Templar drug cartel.
Russian politician Boris Nemtsov killed
The Russian opposition leaders was reportedly gunned down near the Kremlin in Moscow just days ahead of his planned anti-war demonstration.
Ukraine's gas problem
Ukraine's state-owned natural gas company, Naftogaz, is in the middle of a payment dispute with Russia's gas giant, Gazprom.