Swiss bank UBS AG and the U.S. and Swiss governments remain in talks to finalize a tax-evasion settlement, a Justice Department attorney said during a federal court teleconference Friday.
"There are still some issues that remain to be resolved," Stuart Gibson, an attorney in the Justice Department's tax division, told U.S. District Judge Alan Gold during a brief teleconference that included lawyers for UBS and the two governments.
Gold approved a request for a teleconference Wednesday.
Gibson said the bank and governments are hoping to have worked through an agreement by next week. A hearing in the case, scheduled to take place in Gold's court in Miami, has been delayed several times to allow the bank and governments to settle the case. Yet another delay to next week suggests that hurdles remain in finalizing a settlement.
UBS and the Swiss government agreed to settle a long-running tax-evasion case at the end of last month. Details of the settlement haven't been made public, though it's likely UBS will turn over thousands of client names to the Internal Revenue Service as part of the settlement.