WASHINGTON – Corrupt foreign officials and their relatives have used gaps in U.S. law and the assistance of U.S. professionals to funnel millions of dollars in illicit money into the United States, an investigation by the Senate’s Permanent Subcommittee on Investigations has found. [PDF]
WASHINGTON – Deputy Attorney General David W. Ogden released the following statement regarding the announcement today by the Department of Justice and the Internal Revenue (IRS) regarding the results arising from previous settlements of civil and criminal cases against Swiss banking giant UBS AG. The Justice Department and IRS announced that over 14,700 taxpayers have come forward to report previously-undisclosed foreign bank accounts under the voluntary disclosure program the IRS implemented following the settlement. This figure represents almost double the initial numbers the IRS announced in October and dwarfs the number of voluntary disclosures received in 2008.
Statement of Senator Carl Levin (D-Mich) on the Disclosure of the Annex to the U.S.-Swiss Settlement Agreement in The UBS Case
Full text of the Criteria for Granting Assistance Pursuant to the Treaty Request in the August 2009 Agreement Between the United States of America and the Swiss Confederation on the request for information from the Internal Revenue Service of the United States of America regarding UBS AG, a corporation established under the laws of the Swiss Confederation.
Full Remarks of Attorney General Eric Holder at the Opening Plenary of the VI Ministerial Global Forum on Fighting Corruption and Safeguarding Integrity in Doha, Qatar.
Statement by Secretary Geithner at the G-20 Meeting of Finance Ministers and Central Bank Governors in St. Andrews, Scotland.
WASHINGTON – Legislation introduced by Sen. Carl Levin, D-Mich., to stop the formation of U.S. corporations with hidden owners will be the subject of a Thursday hearing before the Senate Committee on Homeland Security & Governmental Affairs.
Opening Statement of Michael F. Mundaca, Nominee for Assistant United States Secretary of the Treasury for Tax Policy, before the U. S. Senate Committee on Finance.
Statement by President Barack Obama on House and Senate Introducing Legislation to Crack Down on Overseas Tax Havens
WASHINGTON – The U.S. Department of the Treasury today released the following statement from Secretary Tim Geithner on the introduction of the Foreign Account Tax Compliance Act of 2009:
Washington, D.C. – Senate Finance Committee Chairman Max Baucus (D‐Mont.), House Ways and Means Committee Chairman Charles Rangel (D‐NY), senior Senate Finance Committee member John Kerry (D‐MA) and Ways and Means Select Revenue Subcommittee Chairman Richard Neal (D‐MA) today unveiled a comprehensive proposal to clamp down on tax evasion and improve taxpayer compliance by giving the IRS new administrative tools to detect, deter and discourage offshore tax abuses.
Today, the US and Swiss Governments formally signed the “Protocol Amending The Convention Between The Swiss Confederation And The United States Of America For The Avoidance Of Double Taxation With Respect To Taxes On Income, Signed At Washington On October 2, 1996.” Attached is the text of the protocol, and below are notes from the US and notes from the Swiss clarifying certain points.
Michelle and I look forward to welcoming world leaders to the wonderful city of Pittsburgh on September 24th and 25th and we thank the people of Pittsburgh and Pennsylvania for opening their city as a showcase to the world.
Good afternoon. My thanks and compliments to Chancellor Darling and his team for hosting this meeting. The United States looks forward to welcoming the Prime Minister and the Chancellor to Pittsburgh, along with the Leaders and Finance Ministers of the G-20, in just a few weeks.
Sen. Carl Levin (D-Mich.) issued the following statement on the settlement of the UBS John Doe summons.
The Task Force on Financial Integrity & Economic Development
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