UBS Settlement Details Are In - Will Disclose 4,500 Names
The agreement requires UBS to turn over approximately 4,500 names of US taxpayers with foreign accounts. However, UBS is not required to turn over any names until AFTER the September 23 deadline for US taxpayers to voluntarily disclose their accounts using the offshore account settlement initiative.
IRS Commissioner Schulman indicated all bets are off regarding the settlement initiative if UBS hands over your name to IRS before September 23. It is doubtful such will occur but you never know . . .