UBS Whistleblower gets paid $104 million award from IRS.
Congratulations to Brad Birkenfeld for receiving a $104 million award from the IRS for turning in UBS for their offshore banking practices. Kudos to Steve Kohn and Dean Zerbe, his counsel since 2009 on this matter. It appears that Birkenfeld’s award determination was based on the $400 million of “collected proceeds” (tax penalties and interest) that were proscribed to be paid to the IRS pursuant to UBS's Deferred Prosecution Agreement, dated February 18, 2009, (see paragraph 3).
The IRS's award determination shows that tax whistleblowers can and do make significant contributions to the enforcement of the internal revenue laws, and will be rewarded for their help. The process works. While the road may be long and sometimes winding, tax whistleblowers can have an impact on tax cheats.
Comments (3)
Read through and enter the discussion by using the form at the endBubba Shawn - September 11, 2012 1:02 PM
Scott:
Do you believe Dean Zerbe's optimistic Forbes article and statement that Deputy Commissioner Miller has been a "key supporter" of the IRS Whistleblower program? The reason why I ask is because last May during a Senate Finance Committee hearing on the tax gap, the GAO head mentioned IRS Whistleblowers as one of three remedies that reduce the gap and Miller sat there completely disinterested as if he did not here the statement.
Deputy Commissioner Miller's 06/20/2012 directive is the only revelation until this week that he has a supporting appreciation of the IRS Whistleblowers.
Is there a real "turning of the corner" going on?
Scott A. Knott - September 11, 2012 1:28 PM
I'm not going to comment on anything Dean said other than to offer him my heartfelt congratulations.
Bubba Shawn - September 11, 2012 1:51 PM
Thank you, Scott.
Sorry if I asked an inappropriate question. Ferraro Law Firm is the ONLY trusted information source in the ongoing saga of the IRS Whistleblower program.