Washington Equitable: Tax evasion at the top of the U.S. income distribution and How To Fight it.
There is another version of the issue starting off with Senior fellow (Urban-Brookings Tax Policy Center of the Urban Institute), Steven M. Rosenthal taking on the issue;
“If Congress Wants the IRS To Collect More Tax from The Rich, It Needs to Pass Better Laws.”
Or you can go to NBER version of the Washington Equitible Working Paper; Tax Evasion at the Top of the Income Distribution: Theory and Evidence, March 2021.
“How much tax do high-income Americans evade? And what kinds of evasion tactics do they use?”
Random audits miss two of the more common methods used to minimize taxes. The audits underestimate tax evasion capturing little of the investor tax evasion by those using offshore accounts and pass-through businesses. Both methods present opportunities unlikely to be captured by the audits of income taxes and are significant to the top income brackets or the 1% of household taxpayers making greater that $500,000 annually (TPC).
In a July 2009 NYT article, it was determined Swiss bank UBS helped US citizens hide $20 billion. This is an old article and certainly later administrations did little to stifle tax avoidance.