Swiss banking giant UBS AG is said to have agreed to disclose to U.S. federal prosecutors some of the names out of its 20,000 American clients - Those who may have broken U.S. tax regulations by using off-shore shell companies as fronts to hoard assets in overseas accounts without disclosure.

 

Submitted: Jun 20, 2008    Views: 99    Comments: 1    Likes: 1   


View Article: http://www.money-rx.com/blog/2008/06/ubs-ag-to-out-american-clients...


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American in Geneva
(Unregistered)

In my years of living and working in Europe, I have been amazed at the number of US expats who choose to park money in Swiss accounts in order to avoid paying US taxes - squarely against the US tax laws. In my experience, these are the people who the IRS is finally going after and should go after.

Posted: Jun 21, 2008



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