The Justice Department sent letters to HSBC Holdings Plc clients suspected of failing to disclose offshore bank accounts in India and Singapore to the Internal Revenue Service, Tax Notes Today reported Friday and Bloomberg reported Tuesday, citing lawyers who read the letters.The letters signal that the DOJ is widening a probe into offshore tax evasion beyond Switzerland and that country’s largest bank, UBS AG. UBS paid $780 million last year and turned over data about thousands of clients to settle charges that it helped individuals evade American taxes. The DOJ also prosecuted 17 UBS clients for tax evasion. Full Story
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U.S. investigating HSBC clients in India, Singapore: report - MarketWatch
