IRS Awards Whistleblower $104 Million
September 14th, 2012 by JBWK
In the largest tax whistleblower payout ever, the IRS awarded a former UBS employee $104,000,000 for helping uncover the bank’s illegal role in helping U.S. citizens evade taxes. He was just released from more than two years in prison for his role in the scheme.
The investigation he triggered resulted in UBS paying $780 million in penalties and led to Switzerland significantly revamping its banking laws. It also persuaded more than 14,000 people to participate in a voluntary tax amnesty program that brought in more than $5 billion in unpaid taxes.
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