Get ready now for Stage Two: Shigeta is using his business model, selling subscriptions to information services in exchange for a fee, in a broad range of products.

FORBES: The Web Phone Evangelist

Instead of reporting to the IRS directly, some FFIs can report FACTA data to their own governments who then will exchange this information with the IRS. Treasury also developed a second model intergovernmental agreement.

FORBES: IRS Implements FATCA, Ramps Up Tax Evasion Battle

The proposed Protocol amends the existing Convention in order to bring it into conformity with current international standards on exchange of information, as reflected in the Organization for Economic Co-operation and Development's (OECD) Model Tax Convention on Income and Capital and the current U.S. Model Income Tax Convention.

WHITEHOUSE: The White House