Monday, August 24, 2009


Offshore banking on endangered list

Advisers who set up clients accounts will likely be on IRS' radar

Legitimate offshore banking by wealthy Americans may be the next casualty of the UBS AG tax evasion case... Having money in an offshore account is perfectly legal as long as it is reported to the Internal Revenue Service and taxes are paid, and many high-net-worth U.S. citizens have offshore accounts to protect their assets from creditors...

Investment News: Offshore banking on endangered list

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