Tax Law
Revised Reporting Law Could Mean Big Penalties for U.S. Clients of UBS
Posted May 15, 2008, 08:23 am CDT
By Debra Cassens Weiss
Prosecutors are expected to issue a subpoena seeking the names of wealthy U.S. clients using the services of Swiss bank UBS AG to avoid income taxes. Ultimately the probe could result in big fines for U.S. clients who failed to report offshore trust accounts.
The subpoena would follow the indictments unsealed Tuesday against former UBS private banker Bradley Birkenfeld and Liechtenstein businessman Mario Staggl, accused of helping U.S. clients set up offshore trusts, the Wall Street Journal (sub. req.) reports.
The indictment claims the two men helped U.S. clients get around a UBS agreement in 2001 to provide U.S. tax officials with information about interest and dividends received by the bank's clients.
Prosecutors ultimately may seek… Continue reading...
-
‘100s and 100s’ of N.Y. Lawyers Involved in Pension Scheme, AG Says
May 9, 2008, 10:26 am CDT
-
Legal Group Hopes Pastors Will Help Effort to Overturn Tax Law
May 9, 2008, 06:32 am CDT
-
‘Perk of Partnership’ at N.Y. Law Firm: Public Pension for No-Show Job
May 8, 2008, 06:43 pm CDT
-
Wesley Snipes to Appeal 3-Year Term; Case a Warning to Others
Apr 25, 2008, 10:20 am CDT
-
Wesley Snipes Gets 3 Years in Failure-to-File Case
Apr 24, 2008, 04:56 pm CDT
-
Help for Home Buyers Likely, But Student Loan Forgiveness Could Cost More
Apr 23, 2008, 10:22 am CDT
-
4 Lawyers from 1 Law Firm Wrongly Included in N.Y. Pension System
Apr 18, 2008, 10:22 am CDT
-
Prosecutors Recommend Three-Year Sentence for Wesley Snipes
Apr 16, 2008, 08:33 am CDT
-
It’s April 15: Did You File Your Tax Return?
Apr 15, 2008, 05:24 pm CDT
-
Kirkland & Ellis Snags 3 Partners from Mayer Brown
Apr 15, 2008, 03:32 pm CDT
-
N.Y. Schools Lawyer-Pay Probe Expands to All Professionals in Gov’t Work
Apr 15, 2008, 01:37 pm CDT
-
Supreme Court Rules in Two Tax Cases
Apr 15, 2008, 09:32 am CDT
-
Wily Tax Attorney Helps Win IRS Case from Beyond the Grave
Apr 7, 2008, 05:35 pm CDT
-
Texas Lawyer Gets Last Laugh in Tax Law Contest
Apr 1, 2008, 05:21 pm CDT
-
ACLU Protests Tax Firm’s Lack of Online Help for Same-Sex Couples
Mar 27, 2008, 01:13 pm CDT
-
NYU Offers New Online Tax Degree
Mar 24, 2008, 06:25 pm CDT
-
$1.8M Legal Bill from Gov’s Firm Makes Pa. Lawmakers See Red
Mar 19, 2008, 10:51 am CDT
-
Gambler Hits Jackpot in IRS Case, Sets Tax Precedent
Mar 17, 2008, 06:21 pm CDT
-
Bank Reports a Boon to Prosecutors
Mar 12, 2008, 07:57 am CDT
-
Top Lawmaker to Spitzer: Resign or We’ll Impeach You
Mar 11, 2008, 03:42 pm CDT
-
Tax Probe Led to Spitzer Prostitution Allegations
Mar 11, 2008, 05:50 am CDT
-
IRS is Scrutinizing Tax Returns of Wealthy Individuals
Mar 7, 2008, 03:10 pm CDT
-
Former Miller Canfield Partner Indicted in Tax Shelter Case
Mar 7, 2008, 01:29 pm CDT
-
High Court Rules for Taxpayer, Ditches 9th Circuit ‘Contemporanous Intent’ Rule
Mar 3, 2008, 11:28 am CDT
-
Spy Saga Sparked Liechtenstein Tax Probe
Feb 27, 2008, 01:30 pm CDT
-
2nd Lawyer Says N.Y. School Districts Often List Legal Counsel as Employees
Feb 26, 2008, 02:15 pm CDT
-
If You Bank in Liechtenstein, You May Have a Problem
Feb 26, 2008, 12:00 pm CDT