Over 50,000 Swiss account holders told to contact IRS
Malaysia Sun
Sunday 16th August, 2009
The American tax authorities have told 52,000 Americans with offshore accounts at UBS they can take advantage of an amnesty to reveal details of their holdings.
In an attempt to flush out tax evaders, the US Internal Revenue Service has made it clear anyone with anything to hide will have to weigh the financial penalties if they admit to tax evasion, against the likelihood of getting caught
Switzerland’s biggest bank agreed last week to give up the identities of some of its clients to the American tax authorities.
It has been reported that federal prosecutors are already building criminal cases against some wealthy American clients of UBS.
Malaysia Sun
Sunday 16th August, 2009
The American tax authorities have told 52,000 Americans with offshore accounts at UBS they can take advantage of an amnesty to reveal details of their holdings.
In an attempt to flush out tax evaders, the US Internal Revenue Service has made it clear anyone with anything to hide will have to weigh the financial penalties if they admit to tax evasion, against the likelihood of getting caught
Switzerland’s biggest bank agreed last week to give up the identities of some of its clients to the American tax authorities.
It has been reported that federal prosecutors are already building criminal cases against some wealthy American clients of UBS.
