IRS Could Target Off-Shore Hedge-Fund Investors Next

August 25th, 2009

Wall Street Journal

Off-shore hedge-fund investors could be the next target of the Internal Revenue Service and U.S. lawmakers after last week’s landmark agreement between the U.S. and Swiss governments over secret Swiss bank accounts held by U.S. citizens.

The IRS’s agreement with the Swiss government and UBS AG will result in thousands of Americans who thought they had a secret Swiss bank account having their names and account details turned over to U.S. tax authorities.

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