Johannesen, Niels; Reck, Daniel; Risch, Max; Slemrod, Joel - National Bureau of Economic Research - 2023
Account Tax Compliance Act (FATCA), to produce new evidence on the foreign financial wealth of U.S. households. We find that U … income gradient in the propensity to hold assets in foreign financial institutions. Specifically, more than 60% of the … individuals in the top 0.01% of the income distribution own foreign accounts, the vast majority in tax havens and more than half …
