Britain’s largest bank, HSBC, published a full-page apology letter in several U.K. newspapers Sunday, following allegations that the company’s Swiss private banking arm helped clients dodge taxes and conceal millions of dollars of assets.
By Daniel Costa-Roberts
WASHINGTON — Credit Suisse AG's guilty plea and $2.6 billion payment in a high-profile case brought by the Justice Department are being held out as a warning to foreign banks believed to be helping U.S. taxpayers conceal assets.
By Marcy Gordon, Eric Tucker, Associated Press
In our news wrap Monday, banking giant Credit Suisse admitted to helping wealthy Americans dodge taxes as part of a federal plea deal. The bank will pay $2.8 billion in penalties. Also, the Balkans suffered the worst flooding in more…
By PBS NewsHour
In an interview with Jeffrey Brown, IRS Commissioner Doug Shulman discusses the agency's efforts to close overseas tax shelters.
A New York Times reporter assesses the impact of Swiss banking giant UBS agreeing to give the U.S. Internal Revenue Service names of some account holders.
UBS AG, Switzerland's largest bank, will provide the names of some 4,450 account holders to the U.S. Internal Revenue Service as part of a tax-evasion settlement reached between the two countries' governments.
The government continues to grapple with an estimated $290 billion gap between the amount of tax revenue it is supposed to receive and what it actually collects. Tax experts explain why the gap exists and what should be done to…
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