Saturday, May 2, 2009
Tax Day Follies
"US prosecutors won their first guilty plea from an American client of UBS AG's Swiss banking services, part of the government's efforts to crack down on citizens who evade taxes through offshore accounts. Robert Moran, of Lighthouse Point, Fla., pleaded guilty in a Florida federal court to filing a false tax return. Mr. Moran, a Fort Lauderdale yacht broker, admitted to concealing more than $3 million in a secret UBS account", Brent Kendall at the WSJ, 15 April 2009.
The IRS and DOJ like to settle these cases around tax time to intimidate the public into paying more taxes.