All of the UBS letters I have seen so far have one of those two dates on them – September 23, 2009 or September 25, 2009.
I am shocked – SHOCKED – that these dates are so close in time to the previously-scheduled expiration of the amnesty program. A coincidence, I’m sure. I am also shocked – SHOCKED, I tell you – that the letters are falling like autumn leaves just a few days before the amnesty program closes on October 15, 2009.
The UBS letter basically tells you to hire a Swiss lawyer and fight there, or roll over and play dead because they (UBS) will put your name on the list to be considered for disclosure to the IRS.
Fighting disclosure in Swiss courts is a “bet your life” move. And it just postpones the day of reckoning. UBS will hand you your money and chase you out of the bank if they haven’t done so yet. As you’re standing on Bahnhofstrasse with a bank check in hand, what do you do?
(Memo to all personnel: stuffing the check in your pocket and bringing it into the USA — undeclared — is not recommended. Frying pan, fire.)
(Memo to all personnel: don’t be surprised if tax evasion ceases to be the Blunt Instrument du Jour wielded by the IRS, to be replaced by the ever-handy money laundering rules.)