US tax agents are tailing UBS bankers in an attempt to identify who their clients are to determine who may be evading taxes, a Swiss newspaper reported yesterday.US tax agents are tailing UBS bankers in an attempt to identify who their clients are to determine who may be evading taxes, a Swiss newspaper reported yesterday.
There is no doubt in my mind that the IRS would spend $200 million to recover $100 million in missing taxes. Given the costs of recovery, strained international relations, and revealed ineptitute, they might let this go. The optimal amount uncollected taxes is definitely non-zero.
