US taxpayers are required to report all foreign financial accounts if their total value exceeds $10,000 at any point during a given year, prosecutors said. Failure to report the accounts can result in a penalty of up to 50 percent of the amount in the accounts.
The report states that in some instances, UBS declined to report accounts to the IRS when clients opened them in the names of offshore corporations, trusts, foundations or other entities, even if the bank knew the true beneficial owners were US taxpayers.

In Liechtenstein, the report said the royal family's LGT Group contributed to a "culture of secrecy and deception" that enabled clients to "evade US taxes, dodge creditors, and ignore court orders."

In common with elsewhere, those that make most want to pay the least of their fair dues. Yet in the 'land of the free', born out of tax issues/avoidance, this seems to be a major problem.

This from your ruling class who are the only ones who can buy political position. When things get really bad they'll also be the first to abandon ship. Great patriots of capitalism following the once might buck to China, India or wherever their fortune is best served.