I.R.S. Releases Criteria to Get Names in UBS Case

The New York Times reports:

The Internal Revenue Service on Tuesday disclosed the criteria being used by the Swiss banking giant UBS to select names of American clients that will be turned over to the agency as part of a settlement of a tax evasion case.

UBS agreed under legal pressure last August to turn over the names of about 4,450 American clients suspected by the I.R.S. of using the bank’s offshore services to evade taxes.

The I.R.S. disclosed in the documents that it needed a minimum of 10,000 UBS client names from all sources, including from UBS and from clients who come forward voluntarily, by Jan. 1 in order to drop its legal case against UBS seeking the names.