Tax evasion in the United States unlawful gains as income when filing annual tax returns (see e.g., "James v. United States") although such income is typically not reported. Suspected lawbreakers, most famously Al Capone, have been successfully prosecuted for tax evasion when there was insufficient evidence to try them for their non-tax related crimes. Reporting illegal income as earned legitimately may be illegal money laundering. In the United States, the IRS estimate of the 2001 tax gap was $345 billion. For 2006, the tax gap is estimated to be $450 billion. A more recent study estimates the 2008 tax gap in the range of $450 to
UBS tax evasion controversies of President Francois Hollande, had a secret Swiss bank account. An investigation was launched to determine whether UBS illegally solicited clients in France. In June 2013, French banking regulators fined UBS France 10 million euros for failures that could have allowed UBS clients to commit tax evasion. A month later, am investigation into allegations that UBS engaged in money laundering of assets generated by tax fraud was launched. UBS France executive Patrick de Fayet was among three local branch executives are being investigated. UBS wealth management bankers allegedly broke the law by enabling French taxpayers in hiding their assets in