On September 11, 2012, Swiss banker Bradley Birkenfeld announced that the IRS will pay him $104 million as a whistleblower reward for the information he provided to the U.S. government.\u00a0 Under the IRS whistleblower program, informants are entitled to a percentage of the dollar amount recovered by the U.S. government when fraud is exposed.\u00a0 The information supplied by Birkenfeld uncovered a secretive private wealth management division of the Swiss Bank UBS.\u00a0 This division of UBS would help U.S. clients evade taxes by hiding their wealth overseas.\u00a0 Birkenfeld\u2019s information eventually led to the recovery of a $780 million fine paid by UBS to the U.S. and the names of 35,000 taxpayers who held illegal offshore accounts, which resulted in over $5 billion dollars in back taxes, fines and penalties.\u00a0 The IRS whistleblower program can potentially pay big dividends to potential informants for turning over information to the U.S. government.<\/p>\n","protected":false},"excerpt":{"rendered":"
On September 11, 2012, Swiss banker Bradley Birkenfeld announced that the IRS will pay him $104 million as a whistleblower reward for the information he provided to the U.S. government.\u00a0 Under the IRS whistleblower program, informants are entitled to a percentage of the dollar amount recovered by the U.S. government when fraud is exposed.\u00a0 The information supplied by Birkenfeld uncovered a secretive private wealth management division of the Swiss Bank UBS.\u00a0 This division of UBS would help U.S. clients evade …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-346","post","type-post","status-publish","format-standard","hentry","category-employment-law"],"yoast_head":"\n