There are an estimated 20,000 clients of UBS suspected of conspiring with the bank to hide as much as $20 billion in assets overseas to skirt federal taxes, according to the November indictment of one UBS executive. An estimated 300 of those may be trying to make deals with the government — not as many as expected, given the consequences, said Edward M. Robbins Jr., a tax specialist at Hochman, Salkin, Rettig, Toscher & Perez in Beverly Hills, Calif.
The case numbers may be picking up as more wealthy professionals realize they may not be able to hide, and those include lawyers, doctors and even accountants with money stashed overseas, according to Robbins. “They realize their professional licenses are at stake,” he said.
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