A federal judge has authorized the IRS to seek records from UBS AG, of U.S. taxpayers suspected of hiding their income in accounts with Swiss bank Wegelin.A US federal court has granted the Internal Revenue Service's request for a disclosure order against UBS, which acted as US correspondent bank for the now-defunct Swiss Bank Wegelin, handling funds for its American clients.
UBS must now disclose records of unidentified Americans who concealed assets at Wegelin and possibly other Swiss banks. Undeclared Income from Swiss Bank Wegelin or another Swiss Bank?
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Read more at: Tax Times blog
