Department of Justice’s Swiss Bank Program May Put Some U.S. Taxpayers At Risk

On Aug. 29, 2013, the U.S. Department of Justice (DOJ) and the Swiss Federal Department of Finance signed a joint statement aimed at resolving tax compliance issues unique to Switzerland. As part of this combined enforcement effort, the DOJ announced a new program that is intended to provide a path for Swiss banks that are not currently under a DOJ Tax Division criminal investigation to obtain resolution of their status in connection with the DOJ’s overall investigations and to assist the DOJ in its law enforcement efforts.