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STATE OF CONNECTICUT EXECUTIVE CHAMBERS HARTFORD, CONNECTICUT 06106 |
M. Jodi Rell Governor |
FOR IMMEDIATE RELEASE February 6, 2010
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Contact: 860-524-7313
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Gov. Rell: $$ Collected From Disclosure of Accounts
Governor M. Jodi Rell today announced that the state has collected just over $2 million in unpaid taxes from taxpayers who have come forward and disclosed assets in offshore accounts. The Governor ordered an investigation of these accounts in August 2009 after global banking giant UBS AG (UBS) admitted criminal wrongdoing, which shielded thousands of suspected U.S. tax evaders with Swiss bank accounts.
To capture tax owed to Connecticut, the Governor directed the state Department of Revenue Services (DRS) to offer a Voluntary Disclosure Program for Offshore Accounts. The program, which ended January 15, allowed Connecticut taxpayers to settle their tax liabilities without civil or criminal penalties.
The DRS reports that 148 taxpayers have so far filed applications for disclosure. Once the applications have been processed, the state could take in more than $5 million from the program.
“Our economy remains on fragile footing and we will aggressively pursue every avenue available to collect what is owed to Connecticut,” Governor Rell said. “Although the voluntary disclosure program has ended, Connecticut residents who use offshore accounts can still come forward and avoid criminal prosecution. But let this be a warning to those who continue to dodge us – once the DRS identifies you, you will be held accountable.”
As part of a 2009 settlement with the federal government, UBS agreed to hand over the names of 4,450 American clients suspected by the Internal Revenue Service of evading taxes. The bank accounts reportedly held more than $18 billion.
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Content Last Modified on 2/7/2010 3:17:22 PM
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