All I am going to say is that I am FLABBERGASTED by the relatively small account balances that are triggering UBS warning letters to U.S. taxpayers. I have seen it multiple times so it isn’t an accident.
If you’ve been keeping your head down and assuming you are a small potato and so your name will not be disclosed? Forget it.
“First they came for the multi-millionaire overt tax evader, but that wasn’t me, so I didn’t care. . . . .”
THIS IS REALLY REALLY IMPORTANT PEOPLE. PAY F-ING ATTENTION.
In conversation with other tax lawyers handling these cases I have also heard that even taxpayers with closed accounts are getting the “ding” letter.
If you’ve been keeping your head down and assuming the “old and cold” strategy may work for you, please reconsider.