US Request for administrative assistance
The US Internal Revenue Service (IRS) recently submitted a request for administrative assistance to the Swiss Federal Tax Administration (SFTA) pursuant to the 1996 double tax treaty between Switzerland and the USA, seeking information with regards to accounts of domiciliary companies belonging to certain US persons as beneficial owners (the Treaty Request). In connection with the IRS Treaty Request, the SFTA has issued an order directing Clariden Leu AG to submit responsive account information to the SFTA.Presumably the parameters for the treaty request are the same as for Credit Suisse, previously discussed in my blog The Swiss Government Begins Disclosing Credit Suisse Accounts to IRS (11/8/11), here.
See also Lynnley Browning's Reuters' Blog, Oldest Swiss private bank to offer US client names (11/9/11), here. [For your continuing information, I am adding Lynnley Browning's Reuters' Blog as a link in the right hand column under the category LINKS FOR OFFSHORE MATTERS -- FBARS, PROSECUTIONS AND VOLUNTARY DISCLOSURE.]
Just a reminder: The Credit Suisse and Clairiden Leu announcements are just the beginning phases of post-UBS disclosures that the IRS will obtain. Long ago on this blog, I sounded the theme of "Get in Line Brother," from a famous bluegrass song which I used to encourage U.S. persons with offshore accounts, particularly Swiss accounts, should get right with the IRS. The advice is still good, although the precise method for getting in line might, depending upon the circumstances, not require a voluntary disclosure under the post-OVDI 2011. Talk to your attorney.
Jack,
ReplyDeleteIs there some way to read recent comments posted since a certain date (the past week, for example) without having to look at each of your recent posts one by one?
The words "Recent Comments" appear on the blog's homepage, but there is no link.
Thanks for a hugely informative blog!
The only way to look at recent comments is to look at the "Recent Comment" section in the right hand column. Sometimes the recent comments section does not populate. I think that is because of the the speed in accessing the internet and retrieving the data. All I can suggest is that you check again later when the connection and throughput to the blog site may be more speedy.
ReplyDeleteOtherwise, to get to the recent comments, a reader would have to look at each blog entry and that, obviously, is not productive. I will see if there is some other way to present the recent comments, but I am not aware right now whether there is any way to do it.
Thanks for your interest,
Jack Townsend
If the "Recent Comments" section doesn't populate right away, I usually click on another thread from "Popular Posts in the last 7 days", and look again. That usually causes the Recent Comments to show up. It actually has been working better than it has in the past, and as I write this, I can see all the Recent Comments with the highlighted link just fine.
ReplyDelete