Not long ago, Bradley C. Birkenfeld, a past banker at UBS served two and half year in prison for working with a wealthy California supplementer to avoid paying United States income taxes.
Birkenfeld now has a lot of knowledge after time served. He is reportedly going to attain $104 million for his award winning whistle-blowing skills that assisted the International Revenue System find out the secrets of the Swiss banking system.
By revealing the tricks that the UBS used to inspire American citizens to elude their taxes, Bradley Birkenfeld opened up an investigation that has hugely demised Switzerland's status as a hiding place for Americans who may avoid paying taxes. The investigation has reportedly allowed the Treasury to receive billions in unpaid taxes.
The bank in Switzerland has reportedly paid back $780 million in 2009 to evade criminal persecution. The bank also turned over 4,500 American clients who were members.
The revelation of the Swiss bank corruption sparked a huge dispute in Switzerland before winning approval from the country's Parliament.
The I.R.S. officials say that the program has assisted in the return of around $5 billion in unpaid taxes.
According to the New York Times, Birkenfeld's lawyers have said:
“The I.R.S. sent 104 million messages to whistle-blowers around the world — that there is now a safe and secure way to report tax fraud.” Dean A. Zerbe and Stephen M. Kohn, in a written statement.
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Posted by: Kayla Nathaniel