US News
Federal judge approves IRS call for Swiss bank records
Jul 1, 2008, 22:47 GMT
Washington- A US federal judge Tuesday cleared the way for the Internal Revenue Service (IRS) to order information from Switzerland-based bank, UBS AG about US taxpayers who may be using Swiss bank accounts to evade federal income taxes.
The Justice Department filed papers on Monday seeking the order, which authorizes the IRS to serve a John Doe' summons on the bank. The IRS uses such summons to obtain information about possible tax fraud by people whose identities are unknown. The John Doe summons approved by the court directs UBS to produce records revealing US taxpayers with accounts at UBS that have been kept from the IRS.
According to the Department of Justice, a statement submitted to the court by former UBS banker Bradley Birkenfeld, UBS employees assisted wealthy US clients in concealing their ownership of assets held offshore by creating 'sham entities' and then falsely filing IRS forms claiming the entities as the owners of the accounts.
According to Birkenfelds court statement, UBS had approximately 20 billion dollars in assets under management in undeclared' accounts for US taxpayers.
Law requires US taxpayers to report all financial accounts in a foreign country if the total value of the accounts exceeds 10,000 dollars at any time during the calendar year. A 'willful failure' to report a foreign account can result in a penalty of up to 50 percent of the amount in the account at the time of the violation, according to the department.
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Older Talkback
page: 1
...if there is a branch of this bank in the USA, the government can walk in and order the records, and if the bank officers living here refuse they can be arrested...
laugh at that...
At SP4. What a fricking idiot he is. A thousand comedians out of work and he's trying to break into the market. What a loser. EssPee you moron, anybody with a brain and a few extra millions would not be stupid enough to go through a US branch orifice. There are ways to deal directly with the Swiss. But you, being unemployed and living in mommy's basement wouldn't know diddley about higher finance. Ooops, sorry. I am wrong. SP4 knows about higher finance. He knows how much his illegal drugs cost. Smoke another one, EssPee, you just might have one operating brain cell left.
Feds have some pretty powerful tools...recently, they were able to threaten corporations with conspiricy or abetting in a fraud if they paid for a corporate officers legal defense....try connecting the dots on that!
IF...If there were a branch here, in the USA, and some of theses Swiss entities have them, I am wondering if a federal marshall could deliver warrants to them and, if they did not comply, arrest or hold them...tell me why, unless they had diplomatic immunity, they could not..or, could they restrict access to domestic or ewven foreign banks under international treaty?
One thing is for certain, they did not deliever a warrant without knowing the consequences..
Read the post, dildo boy...and inform yourself.
go stick your dildo up your backside, druggie. Your brain is so drug addled that you cannot see reality. Tell us, precisely, what has 'Gitmo' got to do with this?
..try and focus your concentration, for a moment, on the posts and not your drug culture. Gitmo is a US Justice invention, to place it in the legal nexus of legitimacy in American law.
Cute, don't you think? Tell me, Rasta, do you think these guys to something for nothing???
So, people like me, who don't use drugs, ask ourselves WHY the Justice department would cut a John Doe, if they knew it was DOA?
Answer:
No.
There is another move coming. Perhaps they intend to track the money that, I'll bet, is leaving those accounts RIGHT NOW!
Perhaps our agreement with Switzerland, which ALLOWS for laws common to both nations, to be prosecuted and assistance provided is being tested.
Perhaps, even, this is a political move to get someone they ALLREADY know to be coviering money...or force the EU to act...
Perhaps Bush has finally learned the art of fouling your opponent right when he enters the ring, just to make him gun-shy.
I would LOVE that!
SP4, the person who said: 'Intercourse me in the anal orifice and call it dinner' has things mixed up, again. His whole series of posts are the meanderings of a drug befuddled brain. It is YOUR drug culture SP, YOUR drug abuse. Remember those 13 posts over there at Grasscity.com? No, you don't remember them? Have another hit off that bong, boy. Maybe then you won't remember where you are, in mommy's basement.
...been to grasscity...never will...
Go Inform yourself.
Right, sure you've never been there. Do we have to reprint all of the posts just to remind you of where you've been? Try to cover your backside with lies and obfuscation, child, it isn't going to work. Go to rehab and straighten yourself out, boy.
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heh...i'm the complete opposite of most of you guys.
throughout school i've always been a pretty straight forward kid. of course, got the living crap scared out of me when the DARE dog came around....so even in high school i never touched any kind of drugs. however, i did not look down on people who did it...its was simply a choice.
for the most part, i was under the illusion that drugs kill you and since weed is labeled as a drug...weed would kill you too.
how naive....
i went to an ivy league college after HS and majored in neuroscience. alot of neuroscience is chemical reactions in the brain and how the brain 'works' through these reactions. all through my freshmen year, i stayed away from weed even though almost every person i knew smoked (i mean...ivy league college..what do you expect). the funny thing was that my freshman roommate just so happened to be one of the biggest dealers on campus.
oh the irony....
sophmore year, i took a drugs and behavior class that satisfied one of the requirements for my major. during this class, my professor taught the material with an extremely opened mind and explained different drugs and their effect on the brain. it was here that i finally learned truth about all the lies that were told to me in the past.
few days after my professor gave a lecture on marijuana and how thc had less negative effects on the brain than alcohol.......i bought my first bag and i've been in love ever since. 5 years later, i'm now beginning vet school and still toking away.
..never been there...
Try these sites if you want to waste some more time and money
RecordOnlineGuide.blogspot.com
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what a laughJul 1st, 2008 - 22:56:08
a US warrant is not enforcable in Switzeland. They'd have to go to the Swiss Courts who would then use their laws to punch so many hole in it they could sell it as cheese. If these idiots served a John Doe warrant on a Swiss banker, they'd accept it and then procede to wipe their anuses with it.
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