The Internal Revenue Service plans to re-assign many of the auditors from its corporate division to a newly created office that will deal with wealthy tax evaders, including those with UBS bank accounts. The new office will be part of the Large and Mid-size Business Division and is expected to handle many of the 4,450 U.S.-based accounts that the Swiss government has agreed to hand over from UBS. The IRS is expecting a flood of 10,000 cases from former UBS account holders, including those who come forward voluntarily. A special reduced-penalty program expired on Sept. 23.
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