In addition to the recent case against Swiss bankingconcern UBS, the government will probe thousands of additional cases of U.S.citizens evading taxes through offshore bank accounts, a senior attorney forthe Justice Department said at a lecture here.
According to Reuters, Kevin Downing, a senior taxattorney at the DOJ, said the U.S. expects to examine between 4,000 and 7,000cases with both banks and governments cooperating in the probe.
Last year, Swiss banking giant UBS agreed to pay $780million and hand over 4,450 client names to settle charges after it admittedhelping U.S. clients evade U.S. tax law.
Last year, roughly 15,000 Americans with offshoreaccounts participated in an amnesty program that reduced penalties and avoidcriminal prosecution.
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