If you have a bank account abroad and their aim was and is to hide money from the IRS that things have changed
for you especially if you bank UBS. Until recently could count on the banking secrecy laws to protect against
disclosure. Now the federal government has successfully taken UBS, which is the Union Bank of Switzerland to the
court in an effort to force foreign bank to give the names of U.S. citizens have bank accounts abroad, technically
known as non-disclosure of accounts the U.S. government.
The number of Americans who have foreign bank accounts (s) are in the tens of thousands of people. In
negotiation Landmark UBS has agreed to waive the names of hundreds of these account holders that the bank believes
that they are guilty of criminal behavior to the IRS. So, If you have a Foreign bank account is your bet. We know
that the number of customers with these accounts are in the range of 50,000. If the bank is to provide up to 250
accounts to start is your name in the 250, or if you are in the 50,000 others? This is the bet.
The IRS has created an outreach program that allows you to reveal your identity to government until 23
September. If the future does not come voluntarily, it seems unlikely that the government will pursue the criminal
case, which means the time in prison. There will also be a certain amount of leniency given and some fines can be
If you wait until after the deadline, or if the government is in first place, we can promise that will to face a
nightmare scenario. The government knows how to make life miserable for all embargoes, arrests, seizures and a wide
variety of practices thought in the last 70 years.
Also note that these bank accounts abroad a can of worms for the taxpayer. The celebration an account abroad is
not a violation of the law. The IRS makes a disclosure violation. Hundreds of thousands of Americans have accounts
abroad and not suffer any penalty, as correctly noted on your tax form for the existence of these accounts and pay
taxes to generate interest or income these accounts.
If you have a non-disclosure of the fact that the government should assume that you have ulterior motives to
maintain account. Perhaps the funds were obtained illegally in the first. If the government finds out and comes
after you, you probably have a full investigation of the statement of its revenue stream.
Probably the best thing you can do right now is to consult a tax accountant or attorney sophisticated. If you
feel your case is very complex and there is a risk of persecution criminal, you might consider consulting a tax
professional criminals that there are many to choose from. Leave a legal representative acting as an intermediary
between the time of interaction with government. Yes, it's expensive, but the alternative interaction itself is