Tax Update Blog: Permalink
« Previous · Tax Update Blog Home · Next »
First UBS client indicted
April 03, 2009
When UBS finally gave up names of Swiss bank account holders to the IRS, this was only a matter of time:
A Florida accountant became the first US taxpayer accused of hiding money in a UBS AG account since the Swiss bank provided US authorities with information about some account holders. The Justice Department accused Steven Michael Rubinstein of Boca Raton, Fla., of using a UBS account to hide his offshore assets and income from the Internal Revenue Service.
It seems that the walls that conceal offshore accounts from the feds are crumbling. Folks with such accounts really should be thinking about taking advantage of the current offshore account amnesty. Sure, you may have some back taxes and penalties, but it could be worse, as Mr. Rubinstein might attest.
Link: DOJ press release
Bookmark: del.icio.us • Digg • reddit
Tax Updates
Subscribe to Tax Updates
The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
Search Tax Updates
Friends and Neighbors
Economics Nerds
Hard-Core Tax Nerds
Gigablogs
Insurance Folk
Goners
Legislation
Tax Update Data Feeds
