WASHINGTON - Over 14,700 U.S. taxpayers have voluntarily come forward to report having secret Swiss bank accounts as part of an Internal Revenue Services program, according to the Justice Department on Tuesday. The result comes after the IRS, the Swiss government and Swiss bank UBS AG announced a settlement in August where U.S. tax authorities gained access to 4,450 accounts of Americans with UBS accounts. As a result, the IRS dropped its lawsuit against UBS in federal court demanding the names. "The Department of Justice is pleased with the extraordinary results achieved from this landmark settlement," said Deputy Attorney General David Ogden. "The message to American taxpayers is clear: the era of bank secrecy and hidden assets is over."
Tuesday, November 17, 2009
14,700 Swiss Bank Accounts discoverd by DOJ
Posted by Ben Cunningham at 1:54 PM