US, Switzerland Mull Fixes for Tax Conflicts

Those pesky Swiss bank accounts

The Swiss and U.S. governments are considering a possible solution to a long-running dispute over Swiss banks accused of helping wealthy Americans evade billions of dollars of tax.

A source familiar with the talks has told Reuters the two sides have agreed an outline for a deal that would divide over 300 Swiss banks according to the extent to which they had helped U.S. clients hide money, to determine how they are dealt with.

A Swiss government spokesman said on Wednesday the cabinet had been informed about a solution to the dispute. He declined to give further details as the negotiations are ongoing.

(Hat tip to Adam Simpson)