Those taxpayers who are not U.S. citizens, and are convicted of filing a false tax return under Internal Revenue Code section 7206(1), may be deported from the United States.
Oldest Swiss Bank Indicted for Tax Fraud
Credit Suisse AG, the second largest bank of Switzerland, has notified some of its U.S. clients that it will disclose their identities and account details to the Internal Revenue Service.
Swiss government has apparently proposed a multibillion-dollar settlement with the U.S. in response to the allegations that it helped American taxpayers avoid billions of dollars in U.S. taxes.
U.S. government decided to prosecute a taxpayer who made a so-called “quiet disclosure” of his offshore account at HSBC.
On April 7, 2011, the U.S. Justice Department asked a federal district court in San Francisco to force HSBC USA to disclose the names of their U.S. customers suspected of having secret bank accounts in India.