Government Increasing Prosecutions Against Taxpayers
By: RNS
Updated: September 26, 2009
(Chicago, IL) -- Prosecutions of the wealthy trying to evade taxes through offshore accounts will become more aggressive by the U.S. government.
A top official says new cases will be made public "every couple of weeks." After the settlement of a criminal probe against Swiss bank UBS AG, U.S.prosecutors have been going through the names of about 250 of its clients.
Officials allege UBS illegally aided U.S. taxpayers in hiding funds offshore.
An amnesty program encouraging tax evaders to turn themselves in has also been put into place by federal officials.
An attorney in the Department of Justice says banks that helped U.S. clients hide money will be targeted for prosecution as well.
