Prosecuting tax evaders

[PLC1]

US preparing to prosecute 150 UBS account holders

WASHINGTON (AFP) – US authorities are building cases for possible criminal prosecution of some 150 wealthy American clients of Swiss banking giant UBS as part of a probe into tax evasion, the New York Times reported Friday.

I wonder how that will work out? What to you think?

 

[Andy]

US preparing to prosecute 150 UBS account holders

I wonder how that will work out? What to you think?

I would wager like most other prosecutions, they'll likely have a few convictions perhaps, but most will be settled with payments somewhere between what the IRS claims they owe (greatly inflated) and what they say they should pay (likely nothing), and they'll walk away from it.

The IRS would much rather get the money, than get the conviction, which is true of any debt collection agency.

Meanwhile, whatever loop hole allowed the IRS to make their lawsuit, the people involved, as well as the rest of the upper class, will immediately make their money more legal, by either moving it someplace else, or hiding it any trusts or other investments.