The Internal Revenue Service, widening its investigation of offshore private banking beyond Swiss giant UBS AG, is preparing to take action against other offshore banks in a bid to force them to identify U.S. taxpayers with undisclosed foreign accounts, according to an IRS agent.
From the Miami Herald:
The Internal Revenue Service, widening its investigation of offshore private banking beyond Swiss giant UBS AG, is preparing to take action against other offshore banks in a bid to force them to identify U.S. taxpayers with undisclosed foreign accounts, according to an IRS agent.
IRS agent Daniel Reeves — who is a key investigator in the UBS case that is shaking the foundations of Swiss banking secrecy — made the extraordinary disclosure during a presentation at the OffshoreAlert Financial Due Diligence Conference in Miami Beach Monday.
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”We have identified other offshore banks that promote tax avoidance,” Reeves told the group. ‘We are developing additional `John Doe’ summonses on some of those banks.”
To read the full story, visit miamiherald.com
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