U.S. prosecutors charged three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities. The three bankers worked as client advisers at a Zurich bank branch and hid certain Swiss bank accounts and the income they generated, prosecutors said. They did not identify the…
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Swiss fin min says U.S. tax deal needs time. Delay of the Inevitable?
"We have made a lot of progress with the main point of the treaty, but we are not there yet where we want to be from a Swiss point of view. The demands of the Americans and the expectations of the Swiss are not yet in line and it will certainly need more talks," Widmer-Schlumpf…
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New US tactic for suspected Swiss bank tax cheats – Rueters
Backed by court judges, federal prosecutors are issuing subpoenas -- official papers which compel the recipients to provide potentially damning evidence -- to United States taxpayers suspected of holding hidden accounts at Swiss and other offshore banks, according to criminal defence lawyers whose clients have received the papers. The grand jury subpoenas are unusual in…
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IRS Summons? Meet John Doe.
How does the IRS get on to you, you might wonder? Increasingly, one important technique is the John Doe summons. It blew the lid off the hushed world of Swiss banking in 2008 when a judge allowed the IRS to issue a John Doe summons to UBS for information about U.S. taxpayers using Swiss accounts.…
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