Gov. M. Jodi Rell and AG Richard Blumenthal, left
Â
Gov. M. Jodi Rell asked state Attorney General Richard Blumenthal to investigate whether Connecticut was deprived of tax revenue as a result of UBS AG customers depositing funds in Swiss bank accounts, with the Internal Revenue Service recently obtaining names of accountholders as part of a tax-evasion probe.
On Aug. 19, UBS agreed to hand over the names of 4,450 U.S. clients suspected by the IRS of evading taxes. The bank accounts reportedly held more than $18 billion.
The government has not specified whether any account holders are Connecticut residents, or non-residents who draw taxable income in Connecticut. UBS has wealth management offices in Greenwich, Stamford and Westport, and its investment banking and trading operation in Stamford make it one of Fairfield County”™s largest corporate employers.
The governor directed the Connecticut Department of Revenue Services to provide Blumenthal with any pertinent documents and assistance.
“Our tax revenues have plummeted during this national recession,” Rell said. “It is critical we do all we can to aggressively protect our bottom line. Those who knowingly divert or disguise taxable assets ”“ particularly in this economic climate ”“ must be held accountable.”
Separately, a Swiss official said the IRS may request U.S. customer account information from other Swiss banks, according to Bloomberg News.
