The Feds are fixing to fix UBS for enabling US citizens to hold offshore accounts out of sight of the IRS. They want names:
“At a time when millions of Americans are losing their jobs, their homes and their health care, it is appalling that more than 50,000 of the wealthiest among us have actively sought to evade their civic and legal duty to pay taxes,” John A. DiCicco, acting assistant attorney general in the Justice Department’s tax division, said in a statement.Here's a name - Geithner, capo di tutti capi at the IRS.
Update: Emanuel.
Comments (2)
I guess it would be interesting to know who the IRS discovered these accounts. Presumably only the account holders and USB would know about them.
Posted by Mick Stockinger | February 19, 2009 3:01 PM
Posted on February 19, 2009 15:01
See: http://www.guardian.co.uk/business/2008/jun/29/ubs.banking
When there's this scale of avoidance/evasion it's hard to hide. A single disgruntled employee or client is all it takes. UBS corporate may have thought it was using the letter of the law to circumvent the spirit of the law. Anyway the Feds' moralising is a hoot in the circumstances.
Posted by mark | February 19, 2009 3:50 PM
Posted on February 19, 2009 15:50