A federal judge appointed by Barack Obama recently ruled in favor of the Department of the Treasury and the Internal Revenue Service against American-based banks, dictating that US banks must answer to foreign governments regarding the holdings of certain individuals, as reported by Accounting Today on Jan. 16, 2014.

Named to the US District Court for the District of Columbia by Obama in 2010, Judge James E. Boasberg coincidentally happens to be the very same member of the judiciary who ruled in 2013 that the IRS had “exceeded its statutory authority in imposing testing and continuing education requirements on tax preparers.”

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