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Thursday, June 25, 2009

First UBS Client Pleads Guilty to Offshore Tax Evasion

The Department of Justice and IRS announced that the first UBS client pleaded guilty today to tax evasion.  Steven Michael Rubinstein, a Boca Raton accountant, pleaded guilty to filing a false 2004 tax return by failing to disclose the existence of a Swiss bank account maintained by UBS of which he was the beneficial owner and failed to report any income earned on that account.  United States v. Rubinstein, S.D. Fla., No. 09-6116).

http://taxprof.typepad.com/taxprof_blog/2009/06/first-ubs-client.html

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Comments

I think it's incredibly arrogant of the US IRS to demand that a foreign bank divulge US customers indentities. The USA has no right to demand foreign governments to comply with its tax code.
Switzerland has her own strict banking laws, luckily enough for the people fortunate enough to keep their funds safe from illegal wars and corrupt politicians.

Posted by: Storm Higgo | Jun 30, 2009 4:30:35 PM