IRS to Charge More


The IRS confrmed that they intend to initiate criminal charges against some of approximately 4,000 American taxpayers whose details have been turned over by Swiss bank UBS under a treaty between the Swiss and American governments in 2009. These 4,000 taxpayers are UBS account holders suspected of evading taxes by keeping their assets in overseas bank accounts.

In addition, the 4,000 taxpayers will be subject to a ‘full-blown audit’ and are liable to full tax repayments and penalties unless they are among the 15,000 taxpayers who have voluntarily declared their earnings during the IRS voluntary disclosure period last year.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

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