Miami Herald: IRS going after other offshore banks - Spear's Magazine

Miami Herald: IRS going after other offshore banks

The Internal Revenue Service, widening its investigation of offshore private banking beyond Swiss giant UBS AG, is preparing to take action against other offshore banks in a bid to force them to identify U.S. taxpayers with undisclosed foreign accounts, according to an IRS agent.

From the Miami Herald:

The Internal Revenue Service, widening its investigation of offshore private banking beyond Swiss giant UBS AG, is preparing to take action against other offshore banks in a bid to force them to identify U.S. taxpayers with undisclosed foreign accounts, according to an IRS agent.

IRS agent Daniel Reeves — who is a key investigator in the UBS case that is shaking the foundations of Swiss banking secrecy — made the extraordinary disclosure during a presentation at the OffshoreAlert Financial Due Diligence Conference in Miami Beach Monday.

”We have identified other offshore banks that promote tax avoidance,” Reeves told the group. ‘We are developing additional `John Doe’ summonses on some of those banks.”

To read the full story, visit miamiherald.com



 

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