I think that the Department of Justice/Internal Revenue Service/etc. is attempting to develop a case against Bank Julius Baer. The IRS would like to replicate its self-congratulating, high-fivin’ humiliation of UBS, unanticipated consequences be damned.
For those of you in the United States with undeclared offshore bank accounts at Bank Julius Baer, let this be a heads-up.
Let’s just say I am extrapolating from things I have seen.
Further down the road: Pictet.
Based on how the IRS is conducting itself in the Offshore Voluntary Disclosure Program for the 15,000+ people who are attempting to clean up their tax situations, I give you some strategic advice from Monty Python’s Flying Circus. [Warning: this is not legal advice to you. Don’t be a damn fool. JFC. I can’t believe that in the 21st Century I actually have to make this explicit warning. But yeah, there are people out there who are That Dumb. “Phil! You told me to look at this YouTube video and extrapolate a tax planning strategy from it!” Leave me alone.] (YouTube).