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    IRS settles with 14,700 over adopted accounts

    Posted By Post Buster On 8:51 AM | Under
    The Internal Revenue Service says added than 14,700 U.S. taxpayers with adopted accounts in 70 adopted countries accept appear advanced to achieve their tax debts.

    IRS Commissioner Doug Shulman says a flood of bodies came advanced as an Oct. 15 borderline approached for the absolution program. The affairs about accustomed bodies to abstain bent case if they agreed to pay taxes, absorption and penalties.

    Shulman says those taxpayers represent billions of dollars in taxes returning to the U.S.

    The voluntary disclosure program was a major part of a U.S. crackdown on offshore tax havens. Swiss bank UBS AG earlier this year agreed to disclose names of some 4,450 taxpayers believed to be hiding income.

    Several UBS customers have been charged criminally.