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 million and reached a limited deferred prosecution agreement that was seen as a historically significant event in the banking industry of Switzerland. Despite the brief lapse in banking secrecy, the country has strengthened its banking secrecy laws and UBS adopted an international "Client Privacy Code" to protect client information from disclosure. Since the initial "Birkenfeld Disclosure", UBS has been at the center of various other tax evasion investigations undertaken by multiple international governments and tax authorities. It has been investigated by U.S. authorities since 2015, Belgian authorities since 2014, French authorities since 2013, German authorities since 2012 and Israeli authorities