UBS AG may ultimately hand over only a small amount of bank data as part of a U.S. settlement because the Internal Revenue Service has been so successful in shaking out alleged tax evaders, the U.S. ambassador to Switzerland said Friday.
Referring to a U.S. tax amnesty, U.S. Ambassador Donald Beyer said, "That amnesty program has already turned up more than 9,000 Americans who have come forward voluntarily to talk about their Swiss bank accounts, so I guess our hope once we finally see the numbers is that the actual number of bank records that will be shared will be very, very small."
The settlement aims for U.S. tax authorities to reap a total of 10,000 sets of data through various means.
