Let’s keep it real…no one likes dishing out tons of money to the IRS. That is why, although it’s illegal, I can still understand why someone would try and avoid paying the big G! However, stashing money in Swiss bank accounts may not be the way. In fact, there really isn’t a way to avoid taxes. Sooner or later, it catches up to you.

On Wednesday, the Justice Department unsealed a Florida indictment of Raoul Weil, the chief executive officer of the Swiss bank’s cross-border United States banking division. Allegedly, between 2002 and 2007 Weil oversaw private banking operations for 20,000 U.S. clients and had bank managers help clients conceal nearly $20 billion from the IRS.

“Mr. Weil denies any suggestion that he was aware of, engaged in or tolerated any illegal conduct in the operation of UBS’s U.S.-cross-border business. That business represented only a tiny percentage of the global wealth management business for which Mr. Weil is responsible,” he said.

“Mr. Weil is a highly respected banking executive in Switzerland with an unblemished record for integrity. We fully intend to fight this indictment and look forward to vindicating Mr. Weil’s good name,” he said.

Maybe he did, maybe he didn’t. Regardless, the IRS are after him and that is no joking matter. Ah, to dream of a day where taxes no longer existed. It would be heaven on earth!

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