Conn. to investigate possible tax evaders

Attorney General Richard Blumenthal says he's investigating whether any Connecticut residents are illegally evading taxes through offshore accounts.
AUG 31, 2009
By  Bloomberg
Attorney General Richard Blumenthal says he's investigating whether any Connecticut residents are illegally evading taxes through offshore accounts. His office is looking specifically at whether any state residents are among the 4,450 U.S. citizens suspected of hiding assets with the Swiss bank, UBS AG, to dodge taxes. In an agreement with the Internal Revenue Service, the bank is releasing the names to U.S. authorities. Blumenthal said Thursday his office will pursue Connecticut residents named in the list for back state taxes. His investigation comes as the state faces a projected two-year, $8.56 billion deficit. Gov. M. Jodi Rell says she directed the state's tax office to help Blumenthal with his probe.

Latest News

Northern Trust names new West Region president for wealth
Northern Trust names new West Region president for wealth

The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.

Capital Group extends retirement plan services further with a focus on advisors
Capital Group extends retirement plan services further with a focus on advisors

The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.

Why RIAs are the next growth frontier for annuities
Why RIAs are the next growth frontier for annuities

David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.

Supreme Court slaps down challenge to IRS summons for Coinbase user data
Supreme Court slaps down challenge to IRS summons for Coinbase user data

Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."

Houston-based RIA Americana Partners adds $1B+ with former Morgan Stanley director
Houston-based RIA Americana Partners adds $1B+ with former Morgan Stanley director

Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.