Follow @USApostille
![]() Our Videos |
August 19, 09
NEWS / U.S. Discloses Terms of Agreement with Swiss Government Regarding UBSWASHINGTON – The Justice Department and the Internal Revenue Service (IRS) today announced that the agreement with the Swiss government has been finalized. As a result of the agreement, the United States will receive substantially all of the accounts of interest when it initiated the John Doe summons against UBS on June 30, 2008. Under the agreement, the IRS will submit a treaty request to the Swiss government describing the specific accounts for which it is requesting information. The Swiss government will then direct UBS to initiate procedures which could result in the turning over of information on thousands of accounts to the IRS. The IRS will receive information on accounts of various amounts and types, including bank-only accounts, custody accounts in which securities or other investment assets were held and offshore company nominee accounts through which an individual indirectly held beneficial ownership in the accounts. Also, the agreement retains the U.S. Government’s right, if the results are significantly lower than expected and other measures fail, to seek appropriate judicial remedies, including resuming actions to enforce the John Doe summons. The agreement involves a number of simultaneous legal actions: •The judicial enforcement of the John Doe summons will be dismissed. While this enforcement motion will be withdrawn, the underlying John Doe summons remains in effect. •Upon receiving the treaty request, the Swiss government will direct UBS to notify account holders that their information is included in the IRS treaty request. It is expected that these notices will be sent on a rolling basis with some being sent over the coming weeks and others over the coming months. Receipt of this notice will not by itself preclude the account holder from coming into the IRS under the Voluntary Disclosure Program, which is due to end on Sept. 23, 2009. In addition, the Swiss Government has agreed to review and process additional requests for information from other banks regarding their account holders to the extent that such a request is based on a pattern of facts and circumstances equivalent to those of the UBS case. Information provided to the IRS through this process will be thoroughly examined for all potential civil and criminal tax violations. The IRS will assess any additional tax, interest and a number of applicable penalties. This includes the penalty for the willful failure to file a Report of Foreign Bank and Financial Accounts (FBAR). This penalty can be up to 50 percent of the value of the account for each year an FBAR was not filed. Under the Voluntary Disclosure Program, the account holders must pay 20% of the amount of tax that was underpaid for the past six years and 20% of the highest value of the account over the past six years, in addition to all their unpaid taxes and interest due on those taxes. The IRS will also recommend criminal prosecution in those cases where the facts warrant such an action. To date, the Justice Department and the IRS have successfully prosecuted four U.S. customers of UBS whose information was provided to the IRS by the Swiss bank as part of the Deferred Prosecution Agreement. Individuals whose information is obtained by the IRS through this process will, by longstanding policy, not be eligible for the voluntary disclosure program http://www.usdoj.gov/opa/pr/2009/August/09-tax-818.html |
Do you need
We do Retrieval, Preparation and Legalization.
Power of attorney
Vital records
Birth certificate
Marriage Certificate
Single Status Affidavit
No Record of a Marriage
Certificate of No Marriage Record
Divorce Certificate
Divorce Decree
Death certificate
Criminal Record
Certificate of good conduct
Criminal Background Check
Foreign Driver License
Documents for transportation of the Deceased
Children's Travel Consent Letter
Evaluation of Foreign Education Credentials for US
Letter of Invitation for USA Visa
Documents for Avoiding Double Taxation
|
TestimonialsNiranjan SujayI recently used LOGOS INTERNATIONAL for the translation of my bachelor’s certificate, and I couldn’t... Read More » Katia Nagata As a foreigner, I needed a certified translation, so I called the DOE to give me a list of the ce... |
FAQWhat are the laws regarding the Great Seal of the U.S.?Read More » HOW CAN A U.S. CITIZENS BECOME A NOTARY PUBLIC IN A FOREIGN COUNTRY? Read More » I had a call requesting a photocopy of my journal entry. Do I have to comply? Read More » In each of the following cases, what is the percentage interest in the partnership that should be reported on Form 1065 Schedule B question 3b? Read More » |
Quick Menuapostille Congo (Kinshasa)apostille Kuwait apostille District of Columbia apostille Bolivia apostille New Mexico apostille Hawaii Power of attorney apostille Ecuador apostille Alaska apostille San Marino apostille Oregon apostille Isle of Man apostille Texas apostille Vanuatu apostille Puerto Rico apostille Nebraska |
NewsMay 7, 25Colorado Governor Jared Polis signs bill adding gender marker to death certificates Read More » May 6, 25 Implementation of Real ID acts puts Florida woman without birth certificate in bureaucratic limbo Read More » April 30, 25 US citizen charged with being “unauthorized alien” despite possessing US birth certificate Read More » April 23, 25 Pope Francis died of stroke and irreversible heart failure – death certificate Read More » |