IRS to go after US Citizens with Offshore Accounts
Within the month, the IRS will launch a new attack on persons hiding assets offshore. Last time it was UBS, this time, no one knows. Another bank, another time, another operation.
Last year, Switzerland's UBS, paid the IRS $780 million and offered to turn over the account information on 4,450 U.S. Citizens.
HSBC, Europe's biggest bank, lost 24,000 Swiss client accounts. They ended up in France where U.S. authorities are likely negotiating for them.
Accordinig the IRS, persons are taking advantage of the Voluntary Dissclosure Program (which by the way does not guarrantee non-prosecution) everyday. The IRS said we will see waves of tax evasion prosecutions in the next 6-8 months.
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