U.S. targets offshore tax dodgers

Thursday, 26 March 2009 00:00

swizzflag040409_optIf you have any money stashed away, and it happens to be in an off-shore Swiss bank account....well, you better watch out. A top U.S. tax official promises to go after offshore dodgers.

It has been estimated that there are 52,000 undeclared accounts of Americans in Swiss Bank UBS. And Uncle Sam wants his due.

The U.S. government has sued UBS AG to obtain the names of thousands of American clients with accounts at the Swiss bank. The lawsuit, filed last week, came a day after UBS agreed to pay $780 million and identify some clients in a deal to resolve criminal fraud charges.

Wire: Top US tax official vows to pursue offshore dodgers.