Experienced Tax Attorneys

Call Us Confidentially Now: 202-349-4033

Call us confidentially now:

Confidential & Experienced Tax Lawyers

Get Help Now: 202-349-4033

News & Events

Credit Suisse Likely to Turn Over Names: Undisclosed Offshore Account Holders

Posted in Offshore Account Update on August 4, 2011 | Share

On July 14, 2011, Credit Suisse received a formal letter from the U.S. Department of Justice, stating that the U.S. agency has opened an investigation against the bank for improper offshore banking practices.  Now, sources believe that Credit Suisse will likely settle with prosecutors by admitting to aiding and abetting their U.S. clientele into committing tax evasion. The penalty against the bank could exceed over $1 billion. 

This settlement could have serious implications for those U.S. taxpayers who have maintained undisclosed offshore bank accounts with Credit Suisse.  Based on a similar course of action that  DOJ took with UBS, Credit Suisse is expected to enter into an agreement that will likely required the bank to turn over data on all U.S. taxpayers with undisclosed foreign bank accounts.

With only  “two weeks” remaining until the deadline for the IRS’s 2011 Amnesty Program, U.S. taxpayers with undisclosed offshore bank accounts held at Credit Suisse should contact an experienced tax attorney in order to limit their civil and criminal exposure.

The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through the 2011 IRS Voluntary Disclosure Program. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!

Thorn Law Group

Get Trusted Help Now

Over 80 years of expertise for your complicated tax law issues.

Back to the Top

Hear What Our Clients Have To Say

"I have personal knowledge that the tax attorneys at Thorn Law Group have developed a nationwide practice guiding individuals, banks, trusts, foundations and other organizations through the processes involved in managing and disclosing offshore bank accounts. The goal for our attorneys is to resolve potential legal issues in advance in order to bring their offshore bank accounts into compliance with government regulations."