Swiss units of Goldman Sachs and Morgan Stanley are among more than 100 Swiss banks participating in the Department of Justice amnesty program.
As the December 31st deadline is approaching, about a dozen of Swiss banks have indicated that they are entering the DOJ Program for Swiss Banks.
In the most recent case of government’s crackdown on offshore tax evasion, a Florida psychiatrist, who together with her husband founded two Caribbean medical schools, was found guilty of conspiring to defraud the Internal Revenue Service and filing false tax returns.
Department of Justice announced that Ty Warner, creator of Beanie Babies, was charged with federal tax evasion for allegedly failing to report income he earned in a secret offshore financial account he held with UBS in Switzerland. Warner ranks as # 209 on the Forbes list of richest Americans.
Reminder: Deadline to File 2012 Foreign Bank Account Reports (FBAR) is June 30, 2013