Wednesday, August 19, 2009

Immigrants & Taxes vs U.S. Bank Accounts at UBS Switzerland

Next time you become angry with the (falsified) belief that immigrants don't pay taxes, think a little about the 52,000 U.S. bank accounts in Switzerland. The owners of these accounts don't have to report their earnings... you can imagine how much money we are talking about... Its billions of dollars.


Swiss Bank UBS to Divulge at Least 4,450 Account Names
By David S. Hilzenrath
Washington Post Staff Writer
Wednesday, August 19, 2009 1:22 PM

The Swiss government will turn over names of suspected tax-dodgers who have held 4,450 secret accounts at banking giant UBS, accounts that at one point held as much as $18 billion, U.S. officials said Wednesday morning.

The settlement follows a long-running effort by the U.S. government to penetrate Swiss bank secrecy and catch tax evaders. The United States had been seeking a federal court order demanding that UBS identify the American holders of 52,000 accounts. The Swiss government vowed to prevent such a disclosure, leading to weeks of negotiations and Wednesday's to complete article

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