Treasury Eyes Funds Hidden Overseas

By

John D. McKinnon

July 26, 2012 8:37 p.m. ET

The Treasury Department released new details Thursday of a plan to ferret out Americans' global tax dodging, though some lawmakers and banks remain concerned about the initiative's scope and regulatory costs.

Treasury officials said they hope to finalize the system's basic rules by the fall and expressed confidence it would be on track for implementation by 2014 as scheduled. Congressional experts said the new system would recover...