No More Hiding!

It seems that the rich people can no longer hide their money off shore. The a Swiss bank, UBS AG is planning on turning over the names of American people suspected of hiding money in their bank. UBS AG has made a deal with the IRS that will start the process of turning over American names. I read that the bank will first notify the people on the list of almost 4500. These people will have the choice to appeal to the Switzerland’s Federal Administrative Court to make sure laws are being followed. The IRS said that they will fight for the names and amounts that aren’t turned over to them. The IRS Commissioner Doug Shulman said that we’re looking to collect taxes with held in the account of almost $18 billion. I think this fight will go on for a long time. Plus it’s going to be hard to prove where the money was made. These are really rich people hiding money, so it’s going to be a fight with the IRS. If the money is owed to the U.S, then I’m all for it. But if it’s not I hope the U.S government leaves them alone.