U.S., Switzerland Talk Regularizing Secret Overseas U.S. Accounts
ZURICH (Catherine Bosley) - Swiss and U.S. authorities have held informal exploratory talks that touched on regularizing untaxed money held by wealthy Americans in secret Alpine accounts, a spokesman for a finance ministry office said.
U.S. officials have said they are investigating other banks after UBS paid $780 million in 2009 to settle tax evasion charges.
In an article on June 9, sources told Reuters the U.S. and Switzerland were in advanced talks on a multibillion dollar deal that would let several Swiss and European banks join a common settlement to avoid potential U.S. prosecution.
n 2009 Berne agreed to hand over to Washington bank data relating to 4,450 clients of UBS, piercing a hole in Swiss bank secrecy laws.
The U.S. Department of Justice continues to go aggressively after U.S. citizens who have hidden assets abroad, with a senior U.S. Internal Revenue Service figure saying this month the authority was about to probe at least one bank.
The Swiss, what good moral standards, they hide money for the Nazi's, but are willing to rat out Americans.
They won't return assets to the Romanoff family or descendents of Jewish victims of the Holocaust, but cave into the IRS.
Thomas Sowell: There are no solutions, just trade-offs.
If they were smart Americans, they would move it quickly to another tax haven, but it does look like Obama is trying to shut down as many of those as he can.
Thomas Sowell: There are no solutions, just trade-offs.
Not illegal to try and save your money, before the government steals it. Not cheating...
CB, Forgot to add that fine democrap, mr. jefferson of LA. I believe, and HIS COLD CASH!
Just to help the short memories of the leftist...
Corruption case
Main article: William J. Jefferson corruption case
Suspecting Jefferson of bribery, the FBI raided his Congressional offices in May 2006, but he was re-elected later that year. On June 4, 2007, a federal grand jury indicted Jefferson on sixteen charges related to corruption.[24] Jefferson was defeated by Republican Joseph Cao on December 6, 2008,[22] being the most senior Democrat to lose re-election that year.[25] In 2009 he was tried in Virginia on corruption charges.[26] On August 5, 2009, he was found guilty of 11 of the 16 corruption counts.[27] Jefferson's lawyers have promised to appeal, a gesture which New Orleans former U.S. attorney Harry Rosenberg told the Times-Picayune may work in Jefferson's favor because the jury failed to convict him on all 16 of the indictment counts.[28] Jefferson was sentenced to 13 years on November 13, 2009, the longest sentence ever handed down to a congressman for bribery or any other crime.
Yes, if you export your money to a foreign country and don't report it, it IS illegal.
I've already condemned Jefferson... I hope they throw the book at him...
Do the names Jack Abramoff, or Duke Cunningham ring a bell? Of course, none of these have anything to do with offshore accounts used to hide money from the IRS... You want to move the goalposts back and try again?
Our tax system sucks and we will NEVER be able to catch all the cheats because it's as complicated as the health care bill. The worn out ine "keep it simple stupid" could be said of nearly every government agency...especially the IRS.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
