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

US & Switzerland Reach Deal In UBS Litigation

Posted in Offshore Account Update, UBS / HSBC on August 4, 2009 | Share

The U.S. and Swiss governments have reportedly reached a deal in the on-going UBS litigation saga.  The governments are expected to finalize the details and for the district court of Friday, August 7.  However, sources close to the negotiations say the details of the settlement are unlikely to be released to the public the same day. 

The settlement is likely to include the handing over of some UBS client data to the U.S.  Sources say UBS will turn over to the IRS information on approximately 5,000 account holders.  If true, this is a sizable concession by the U.S. government who was seeking information on over 52,000 account holders. 

It will be very interesting to see how this settlement effects similar U.S. government investigations into accounts at other foreign banks.  Also of great interest to the international community will be the criteria for determining which 5,000 account holders UBS will turn over to the IRS as well as the timing for turning the information over to the IRS.

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

"The attorneys at Thorn Law Group, PLLC have significant experience in all phases of tax controversy, fraud and tax litigation. The Managing Partner, Kevin Thorn, is incredibly personable, yet also brilliant at what he does. Kevin's depth of knowledge in tax administration and procedure provides us with valuable insight into the government's and the courts' perspectives in our case. I would definitely recommend the firm to anyone with needs in resolving any kind of tax disputes."
Stephanie Tee