Believe it or not the United States and UBSSwitzerland are not anxious to release the details of their 20-Questions: Tax Evaders settlement just this minute (or Friday, when the settlement is due to be concluded). You would think the settlement some sort of public relations embarrassment for Switzerland by this metric.
The settlement is likely to include the handing over of some UBS client data to the U.S. but UBS will be spared paying a fine, U.S. government sources have said.
A second source also confirmed the details were unlikely to be made public on Friday.
There had been speculation the U.S. and Switzerland would wait until the end of September to finalize the settlement to wait until the end of a U.S. voluntary tax disclosure programme.
So, really, the voluntary disclosure program (don't say amnesty) only applies if you weren't totally screwed by UBS before you had a chance to dial IRS customer service and fess up. (Or hit the "disclose foreign black account" button in TurboTax, if you work for the Treasury.)
UBS Tax Deal Details Unlikely On Friday [Reuters]