The IRS announced today that the Swiss government has completed its processing of the 4450 UBS accounts of U.S. taxpayers that were the subject of the August 2009 agreement for deferred prosecution of UBS and ending of the John Doe summons request. The IRS has already received about 2000 names and expects to receive the rest of the information very soon.
It will be interesting to see the developments this fall as the IRS begins to use the information it has received to prosecute indviduals for tax fraud and to pursue attorneys, accountants or others that have helped Americans hide their assets overseas.
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