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IRS Wants to Force Swiss Bank UBS to Lift Veil of Secrecy
Caplin & Drysdale

IRS Wants to Force Swiss Bank UBS to Lift Veil of Secrecy

Date: 2/20/2009

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The Justice Department filed suit in Miami federal court Thursday seeking to force Swiss banking giant UBS to name 52,000 U.S. customers with Swiss accounts totaling $14.8 billion. The IRS action comes on the heels of a massive settlement Wednesday in which UBS moved to avoid a criminal prosecution that would likely have threatened its survival. For more information, see attached pdf.

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