According to the SonntagsZeitung and World Radio Switzerland 11 Swiss banks have until Tuesday, December 20, 2011 to agree to deliver detailed information about their U.S. offshore banking businesses in order to avoid legal action.
U.S. authorities have been aggressively pursuing foreign banks, particularly Swiss banks, for their role in helping U.S. citizens evade billions of dollars in taxes.
See Also:
Credit Suisse Discloses Account Records of 130 US Citizens to IRS