IRS OK'd To Snoop UBS Records For Potential Tax Dodgers

Law360, New York (January 28, 2013, 10:49 PM EST) -- A New York federal judge Monday allowed the Internal Revenue Service to seek records from investment banking giant UBS AG on potential U.S. tax dodgers seeking to hide their wealth in Wegelin & Co. and other Switzerland-based banks.

U.S. District Judge William H. Pauley allowed the IRS to issue a summons to obtain records of Wegelin’s U.S. correspondent account at UBS, to allow the agency to find out which U.S. taxpayers held interest financial accounts at Wegelin and other Swiss banks which used Wegelin’s UBS account....
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