Tax whistleblowing might become a cottage industry.
Whistleblowing may become a cottage industry. In September, Bradley Birkenfeld received an award of $104 million dollars after his tip led UBS AG to pay the IRS $780 million in fines, penalties, interest and restitution. Now there are reports that another tax whistleblower got $2 million from the IRS after he tipped them off to a tax-avoidance scheme at Illinois Tool Works in the late 1990’s. The informant[who apparently chose to remain anonymous] is a Wall Street banker. And, according to reports, he had already received a $2 million award from the IRS on another tip!! Nice work if you can get it.