Bradley Birkenfeld awarded $104 million (13% ) as UBS tax case whistleblower

U.S. tax authorities have awarded $104 million to a whistleblower in a major tax fraud case against Swiss bank UBS AG that widened a government crackdown on Americans avoiding taxes in Switzerland, his lawyers said on Tuesday. This approximately 13% of the amount the Government recovered from UBS ( $780 million in fines, penalties, interest and restitution).

We first posted that Bradley Birkenfeld was freed last month from prisonon August 1, 2012. His attorneys announced the $104 million reward made under an Internal Revenue Service whistleblower program.

Birkenfeld had sought a large payout for his role in a tax-dodging case that resulted in early 2009 in UBS entering into a deferred prosecution agreement and paying $780 million in fines, penalties, interest and restitution.

Birkenfeld turned over information about UBS to the authorities, but later he was jailed after the government said he withheld other information.

UBS entered into a deferred prosecution agreement in early 2009 and paid $780 million in fines, penalties, interest and restitution. The case was a key turning point in a U.S. effort to combat tax evasion in Switzerland and elsewhere overseas.

If you have unreported income from Foreign Banks and you want to Get Right with the IRS, contact the Tax Lawyers at Marini & Associates, P.A. for a FREE Tax Consultation at www.TaxAid.us or www.TaxLaw.ms or Toll Free at 888-8TaxAid (888 882-9243).

Source:

Rueters