Word: taxingly
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...been a brutal week for Harlem politicians. On March 3, Charlie Rangel, the chairman of the House Ways and Means Committee and 20-term representative from New York's 15th district, announced he would temporarily relinquish his stewardship of the powerful tax-writing body in the wake of an ethics investigation that found he violated protocol by accepting corporate-funded trips to the Caribbean. The decision came on the heels of scandal-scarred New York Governor David Paterson's announcement that he will not run for re-election in the fall. The synchronized setbacks of two longtime Harlem leaders have...
...Gnomes of Zurich. This association - of bank secrecy and crime - has been fed into the public's imagination by dozens of books and movies. It's a reputation that rankles the Swiss, who have a more benevolent view of their commitment to privacy - one that happens to extend to tax privacy. Don't ask, because we won't tell...
...dramatic federal investigation of Switzerland's UBS has blown the lid off bank secrecy - and revealed how Swiss banks abet tax evasion on a far more widespread, if more banal, level. Over the past two decades, these secret banking services have been peddled progressively downmarket - first to the lesser-known fabulously wealthy, then to just the wealthy; more recently, private bankers have been tripping over themselves soliciting business from doctors, lawyers and other folks who are what the biz generally calls "high net worth" individuals. "The IRS has been concerned for decades that a combination of a global economy...
...federal investigation into UBS, which led to a $780 million fine and an agreement to turn over the names of more than 4,450 suspected tax cheats, is now in tatters after Swiss courts ruled against the executive-branch deal. To get around it, a special law has been proposed to accomplish the handoff, but that may not get anywhere in the legislature either. One outcome is already known: tax evasion had become a key service of the Swiss economy, not some isolated event. "They have been outed completely because a very large chunk of their business has been shown...
...Palace during her [Queen Elizabeth] 58 years on the throne ... the South African president is probably the first to have faced a multitude of criminal charges." Zuma was charged with rape five years ago, but he was acquitted at trial. He also faced charges of fraud, racketeering, money laundering, tax evasion and corruption - but all were dropped before last year's general elections. (See pictures of Zuma and the worst-dressed world leaders...