IRS Unveils Criteria Used to Identify U.S. Investors in UBS Bank

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IRS unveils the criteria used to identify 4,450 U.S. investors with accounts in Swiss banking giant UBS whose names will be turned over to the United States under an agreement with Switzerland. In a move that IRS Commissioner Shulman and U.S. Deputy Attorney General Ogden say marks another milestone in the government's quest to stop offshore tax abuse, the criteria are released in the form of an “annex” to the treaty request for the names. Under the annex, IRS is seeking accounts that represented the most egregious behavior, the ones that would be most difficult to find, and the accounts that hold the highest amounts of assets, Shulman says.

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