Swiss regional bank Zuercher Kantonalbank told U.S. customers it was closing their accounts, a Swiss newspaper reported, as the bank, embroiled in a U.S. tax investigation into Swiss banks, pulls back from the risky offshore business. Zuercher Kantonalbank calls time on U.S. clients-paper - (Reuters) Read more at: Tax Times blog
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Another Felony Criminal Tax Prosecution!
United States v. Quinn (D. KS 2011) is one of several recent felony tax prosecutions, not for tax evasion, but for violation of Internal Revenue Code Section 7202. IRC Section 7202 makes it a felony to willfully fail to collect, account for, or pay over any tax due. In this case Ms. Quinn failed to…
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US Charges 3 Swiss Bankers in Tax Evasion Case
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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