UBS Attorney Says Settlement Is Near in Massive Tax Dispute, but IRS Not Convinced

Attorneys for Swiss banking giant UBS and the U.S. Justice Department differed Wednesday on how close they are to settling a dispute over an IRS demand for 52,000 names of American account holders who may have skimped on their taxes. Bank attorney Eugene Stearns, of Stearns Weaver, told Judge Alan S. Gold he felt a settlement between the Swiss and U.S. governments could be "minutes away." But Stuart Gibson, an Assistant U.S. Attorney representing the IRS, said he wasn't optimistic a settlement could be reached.