IRS Crackdown on Tax Evasion Leads Swiss Banker to Enter Guilty Plea
Offshore Account UpdatePosted on August 26, 2016
Many U.S. citizens opened offshore Swiss accounts because of the strong privacy laws in Switzerland that were supposed to help these accountholders keep their identities confidential and their information from the Internal Revenue Service. Unfortunately, the Swiss privacy laws turned out not to have really provided much protection at all. As the IRS and Department of Justice have begun aggressively cracking down on banks and bankers, many are entering into plea deals that often involve giving up information on their clients.
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