UBS warns US clients IRS may get their data
(Reuters): American clients of UBS AG (UBSN.VX) were formally warned by the bank that their undeclared income in Switzerland may be revealed to U.S. tax authorities, according to a letter obtained by Reuters on Friday. The Swiss bank, which agreed to hand over 4,450 account names to the U.S. government in August, told clients they have 20 days to appoint a lawyer in Switzerland, or be assigned one by the Swiss authorities, according to the letter, dated Sept. 10.
Category: Business
