Credit Suisse has begun notifying some of its U.S. customers that it will be disclosing their names to the Internal Revenue Service.
The bank has started sending out letters to some of its customers informing them that it intends to turn over their names and the details of their accounts to the IRS, according to Reuters. The letter referred to a request from the IRS to the Swiss Federal Tax Administration based on a tax treaty between the U.S. and Switzerland. The Swiss authorities issued an order compelling the bank to comply.
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