Recently, the Internal Revenue Service (IRS) announced that they intend to probe the private UBS accounts of 4,000 taxpayers. While one can only speculate how many of them are currently engrossed in a divorce, odds are, a healthy number of them could be trying to hide money from both the government and their spouse.
Those who are discovered stand to lose a lot.
In addition to the possibility of federal tax evasion charges and a loss or depreciation of their assets to cover back taxes, dishonest parties may lose a significant portion of their divorce settlement, as judges often penalize them by giving the disadvantaged party an additional award. Unfortunately, only a small percentage of divorcing parties may be probed by the IRS this year.