If the case of Bradley Birkenfeld is any guide, the US government better hope he knew all there is to know about tax evasion because the reward for coming forward and giving the JV investigators at the IRS every detail they failed to uncover isn’t looking so sweet. After coming forward and helping the IRS get back $52 million in back taxes from his former tax evasion client, the powers that be turned around and slapped the former UBSer with a stiffer penalty than both his client, Igor Olenicoff, and his boss for failing to mention that he had been involved in the scheme. While Olenicoff enjoys his two years of probation and Birkenfeld’s boss is running free in Switzerland, the whistleblower will be spending the next three+ years in a federal jail.
Unless there are legions of people who just happened to stumble upon reams of detailed Swiss bank account information intended for the shredder, motivation for helping out the IRS seems hard to come by. The government has said it wants to send a strong message to tax evaders. With well thought out decisions like this one, the message is clear- don’t say a word and keep your passport handy.
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So that’s what a tax evader looks like! Thanks Greg, that was enlightening.
@1, it’s not a tax evader, he was the last one on your Mom in a lunch time train and he’s 10 minutes late for a meeting.
Greg, I’m going to tell the IRS you’re deducting your anal beads as a business expense.
-Jeff Macke
[the sound of crickets chirping]
Oh, and about the infamous Turbo-Tax Defense…
“Petitioners were not permitted to bury their heads in the sand and ignore their obligation to ensure that their tax return accurately reflected their income for 2006. In the end, reliance on tax return preparation software does not excuse petitioners’ failure to review their 2006 tax return.”
From Commissioner v. Hopkins. Aug 25, 2009.
Some days TGFD hates this f’n government. Today is one of those days.
I hope that no more “whistleblowers” come forward and that Uncle Sam’s tax-recovery efforts fail miserably. Fuck him.
TGFD was initially pleased with the UBS/IRS settlement, but now, in light of what they’ve done to Birkenfeld and because of their laxity on both the UBS boss and on that Russian criminal thief, TGFD now hopes that all potential witnesses keep quiet from now on.
People should always remember that a f’n government agent is never, ever their friend.
Greg…Unlike the first five posters, TGFD appreciates your effort on this very important matter. Thanks.
The Guy from Delaware