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Professional Tax Software News & Advice

The Days of the Swiss Bank Account May Be Over

Warn your clients, the U.S. is cracking down on Swiss bank accounts. It is something that isn’t widely discussed in the tax industry but there are some Americans who hoard money in Swiss bank accounts to avoid paying taxes on it. However, the lower of house of the Swiss parliament voted Monday in favor or a law that will require Swiss banks to report the holdings of their current and future clients. [More]