Swiss Government Settles With U.S. Over Tax Evasion
New Jersey-The Swiss government has recently proposed a multibillion-dollar settlement about tax evasion to the United States in the hopes that it would resolve international tax disputes.
- Newark, NJ (1888PressRelease) January 03, 2012 - The Swiss government has recently proposed a multibillion-dollar settlement about tax evasion to the United States in the hopes that it would resolve international tax disputes. The government hopes that this settlement will resolve the IRS's pending investigations regarding the role of some Swiss banks in encouraging tax evasion by allowing U.S. taxpayers to have undisclosed offshore bank accounts. Some sources speculate that this settlement may even reach $10 billion.
However, the settlement is not entirely peachy-keen at the moment. The Department of Justice and the Internal Revenue Service will not accept an agreement that doesn't involve the turnover of client names and tax information of Americans with undisclosed bank accounts. The Swiss banks, famed for their discretion, are reluctant. They fear people may want to bank with them less if their identities might be turned over to the IRS at any time. However, the negotiations still continue and may resolve in favor of either side, or in a compromise. The eventual resolution of this struggle will set precedents for international banking law in the future.
Therefore, if you are a New Jersey resident with an undisclosed offshore bank account, you should make sure not to get caught out if the banks turn over your tax information. Call an experienced New Jersey tax lawyer today. A New Jersey tax lawyer is experienced in guiding Americans with offshore bank accounts into disclosing their accounts with the minimum of penalties; if you do not disclose your undisclosed offshore bank account, you risk fines and even jail time. Therefore, the only logical recourse is to immediately seek out the services of a lawyer who will resolve your disputes with the IRS in your favor and prevent civil and criminal charges.
The Thorn Law Group consists of experienced New Jersey tax lawyers who are dedicated to serving their clients in New York, New Jersey, Connecticut and Pennsylvania. In civil and criminal cases, they defend their clients before the IRS, United States Tax Court and US Department of Justice in cases involving business or criminal tax law, offshore bank accounts, international tax disputes, audits, ethics and professional responsibility investigations and IRS whistleblowers.
The Thorn Law Group
(201) 842-7696
(201) 939-0977 (fax)
http://www.newjersey-tax-lawyer.com/.
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