For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
UBS whistleblower Bradley Birkenfeld is awarded $104 million by IRS as payment for insider information he provided the U.S. government on the Swiss bank's illegal offshore banking scheme, the National Whistleblowers Center announces. It is believed to be the largest reward ever given to an individual whistleblower in the United States, and it is the first major award issued under IRS's tax whistleblower program. Birkenfeld's dislosures about illegal offshore accounts directly led to UBS paying a fine of $780 million, with more than 35,000 taxpayers participating in amnesty programs to voluntarily repatriate their illegal offshore accounts, and the collection of more than $5 billion in back taxes, fines, and penalties overall.
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