Swiss Government Raids Geneva HSBC Office; Fall Out Pending

The Department of Justice Tax Division has been investigating HSBC in Switzerland since 2010. With the recent Swiss Leaks (team of journalists from 45 countries) that unearthed secret bank accounts maintained for criminals, traffickers, tax dodgers, politicians and celebrities, the Swiss government took action by raiding the Geneva office. Undoubtedly, this is only the beginning of the issues that HSBC will encounter as more information comes to light. Any United States taxpayers that have undisclosed accounts or assets with HSBC need to immediately come forward and take advantage of the IRS OVDP or Streamline Filing programs.

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Five Stone Tax is America’s trusted tax adviser, offering full-service tax solutions with the goal of making sure all of our clients pay the lowest amount of taxes legally possible. As the most effective tax representation company in America, our team consists of the best Property Tax Consultants, Tax Attorneys, Enrolled Agents, case managers, and administrators in the industry.