The NYT reports here that there are indications of a shift toward Parliamentary approval of the US / UBS / Swiss deal requiring UBS to turnover of 4,450 names of U.S. taxpayers hiding money -- and probably taxable income -- in UBS. Swiss Parliamentary action is expected in June.
Those U.S. taxpayers who expected / hoped the Swiss would hunker down to save them, may be disappointed. Their failure to join the voluntary disclosure program earlier may cost them significantly, at least in terms of penalties. And, of course, I would expect that some will be criminally charged.
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