Web Exclusive: IRS Targets Holocaust Money

Posted on 22. Nov, 2008 by John Fife in Israel & Jewish Issues, Real History

The dam may be about to break on Swiss banking rules that have protected wealthy U.S. clients from IRS scrutiny and that is causing a panic among some relatives of Holocaust survivors and refugees who hid money in Switzerland before the outbreak of World War II. Reports out of Zurich indicate the Swiss government has agreed to give the IRS information about some overseas accounts for people trying to avoid U.S. banking laws. The development stems from a U.S. Justice Department investigation of UBS’ alleged courting of wealthy Americans for such offshore tax evasion. As the Justice Department expands its investigation to include other overseas banking entities, some owners of Holocaust-era accounts have sought legal help in “coming clean” with the IRS. Source>>>