Swiss - US Tax Deal Terms Not Likely to Ease if Romney wins

A Romney White House would make the same demands as the current
administration has before agreeing to wipe the slate clean for 11 Swiss banks suspected of helping wealthy Americans evade taxes, Switzerland's Finance Minister said.

Switzerland needs the tax deal so that it can normalise its banking relations with the United States, but Widmer-Schlumpf has played down expectations that Switzerland could force a breakthrough before the November election, suggesting the ball is firmly in the U.S. court.

After the election in November, it would be several months before a new administration came in, then three or four more for new officials to get up to speed, Widmer-Schlumpf said.

Asked if the U.S. political line would change if Romney won the election, she said she thought not.

Our take is that repealing FATCA is political suicide for either party. How can either party justify repealing law which is designed to convert former tax dodgers into taxpayers?

If you have Unreported Income From Swiss Banks, contact the Lawyers at Marini & Associates, P.A. for a FREE Consultation at www.TaxAid.usor www.TaxLaw.msor Toll Free at 888-8TaxAid (888 882-9243).

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Source:

Rueters