IRS files civil suit seeking names on 52,000 suspect UBS accounts of Americans evading taxes

[JohnWxy]

http://www.usatoday.com/money/industries/banking/2009-02-19-ubs-tax-evaders-irs_N.htm


U.S. authorities filed the civil lawsuit in Miami, one day after reaching a deferred-prosecution deal in which UBS agreed to a $780 million settlement of criminal charges it helped American customers evade federal taxes. The agreement required the bank to turn over identities of some of those clients.

Thursday's civil lawsuit asked a federal court to enforce so-called John Doe summonses served on UBS last year for the names of the undeclared account owners, along with details of their holdings.

The court demand also cited roughly 52,000 suspect accounts, up from 19,000 federal authorities alleged last year.

[bluestateguy]

1. I think we just figured out how to pay for the stimulus

nt

[Frustratedlady]

3. That's exactly what I said yesterday. Now, the Cayman Islands and Mariana Islands should do it.

Add to that the brass who stole money from the Iraq war funds and we may even have a little left over.

No wonder we didn't have any money.

[JohnWxy]

5. YES! IRS says WE lose about $100 Billion A YEAR to tax evaders! 10 years of that = $1 TRILLION

"The developments are part of a historic legal struggle that has cracked Switzerland's renowned reputation for banking secrecy and cast a spotlight on what a 2008 Senate hearing identified as $100 billion in annual tax evasion by American owners of foreign accounts."

Why they are going to let these creeps (not the children of haulocaust victims whose accounts were set up by their parents living in Europe at the time. They were trying to protect their money from Nazi theives!) just pay back taxes and penalties and avoid going to jail is beyond me.

They should all be profiled on America's MOst Wanted.

[Dover]

8. I'll bet there was a flurry of 'discrete' bank withdrawals/transfers during the Davos meetings..lol!

[BootinUp]

2. I question whether they will be very successful, but one thing seems clear

that there will be a lot less of this activity with regard to Swiss banks than in the past. So far they have only gotten info on 250 individuals clearly guilty of fraud. Swiss law does not equate evasion with fraud. Hope I am wrong though and they get all these names.

[JohnWxy]

6. CLEARLY - AMERICA'S MOST WANTED!

[MineralMan]

4. If this suit succeeds, we need to be ready to see the names

of some of the people we have supported on the list of those who have unreported assets in UBS accounts.

Of course, there will also be people we'll be glad to pillory for hiding assets, but it's almost certain that some prominent Democrats will also appear in the list.

For myself, I'm willing to accept whatever shows up and will roundly condemn anyone who has evaded taxes by hiding assets in this way.

[GoesTo11]

7. Stick

it to the m*****f*****s.