The Justice Department and the Internal Revenue Service (IRS) today announced that the agreement with the Swiss government has been finalized. As a result of the agreement, the United States will receive substantially all of the accounts of interest when it initiated the John Doe summons against UBS on June 30, 2008. Under the agreement,…
Tag: UBS
UBS Tax Lawsuit Settled by U.S., Swiss Governments
The U.S. and Switzerland settled a Justice Department lawsuit against UBS AG seeking the names of Americans suspected of evading taxes through 52,000 secret Swiss accounts. The governments have initialed agreements and will later sign a final accord, Justice Department lawyer Stuart Gibson told U.S. District Judge Alan Gold in Miami today. Gibson didn’t disclose…
UBS tax settlement delayed
The U.S. and Switzerland need at least five more days to negotiate settlement of a Justice Department lawsuit against UBS AG seeking the names of Americans suspected of evading taxes through 52,000 secret Swiss accounts. U.S. District Judge Alan Gold in Miami today agreed to a request by Justice Department attorney Stuart Gibson to reschedule…
UBS, Swiss reach pact on tax battle
UBS and the Swiss government, rocked by months of embarrassing details about bank secrecy and guilty pleas for UBS clients, agreed to settle a tax-evasion probe with US authorities. The agreement appears to signal that thousands of US client accounts, hidden in offshore shadows, will be turned over to US revenue agents. The settlement, announced…