DoJ To Get List of Americans Evading Taxes with Swiss Banks

[boutons_deux]

Swiss Agree on Penalties for Banks That Aided Tax Cheats

Switzerland and the United States reached a watershed deal on Thursday to punish Swiss banks that helped wealthy Americans stash money in hidden offshore accounts, closing the door on an era of bank secrecy and tax evasion.

formulas for Swiss banks to pay up to billions of dollars in fines and disclose information about American account holders,

Banks will be required to provide the details on accounts in which American taxpayers have an interest through treaty channels, inform on other banks that transferred money into secret accounts or that accepted money when secret accounts were closed, disclose all cross-border activities, and close the accounts of Americans who are evading taxes.


Significantly, the deal does not cover 14 Swiss banks and Swiss branches of international banks that are under criminal investigation by the United States authorities, including Credit Suisse, Julius Baer and several regional banks. Instead, it effectively covers the rest of the Swiss banking industry, home to a tradition of bank confidentiality and laws that have not considered tax evasion a crime. By some estimates, Switzerland is home to more than $2 trillion in overseas deposits.

some unidentified Swiss banks were not cooperating and thus could face indictment. The agreement, he said, “creates significant risks for individuals and banks that continue to fail to cooperate, including for those Swiss banks that facilitated U.S. tax evasion but fail to cooperate now, for all U.S. taxpayers who think that they can continue to hide income and assets in offshore banks, and for those advisers and others who facilitated these crimes.”


The agreement will also turn up the heat on American clients who have not already entered voluntary disclosure programs with the Internal Revenue Service.

http://mobile.nytimes.com/blogs/deal...?from=homepage

I maintain that Bishop Gecko refused to release his tax returns because he got caught as a criminal tax evader.

[boutons_deux]

that was a of Thursday for PROGRESS

- IRS/DOJ/Swiss bank deal

- IRS respecting same-sex marriages for tax filing

- DoJ letting WA, CO run with their decriminalization of mj

I'd say the 2014/2016 campaigns are well under way!

[TDMVPDPOY]

does this apply t o politicians?

[boutons_deux]

local police depts publish mug shots, I don't see why IRS can't publish full names of people, a searchable database, who get caught in tax evasion, and how much they evaded, penalties.

[symple19]

meh, people will just move funds to other tax-free havens

[boutons_deux]

Julius Baer Reaches Preliminary Tax Deal With U.S. Authorities

Julius Baer said on Wednesday that it had reached a preliminary agreement with the United States Justice Department over an investigation into whether it had helped wealthy American clients evade United States taxes.

The Swiss bank also said that it had set aside an additional $200 million to cover potential financial penalties. In total, the Swiss bank has now earmarked almost $550 million for the expected financial charges related to the inquiry.

The prospective settlement with American officials is the latest in a number of investigations targeting Swiss financial ins utions after UBS agreed to pay $780 million in fines in 2009. That settlement related to federal claims that UBS had helped wealthy Americans evade taxes,while the bank also agreed to disclose the names of 19,000 of its clients.

http://www.nytimes.com/2015/12/31/bu...s&emc=rss&_r=0

disclose names of 19K tax evaders when? where?