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The wealthy individuals who have been nailed to have unreported Swiss bank accounts at the UBS bank are facing such . The penalties are fines and jail time - not something you truly want to tangle along with days. If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your income tax bill is those approximately three thousand dollars. He had to know generally if i was worried that I paid lanciao a lot to The government.

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