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.
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.
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Read more at: Tax Times blog