Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays Bank.
If you’re looking for a way to earn extra money, you should seriously consider becoming an IRS whistleblower…
While I’m (mostly) kidding when I say this, it appears that there’s big money available to those with information on big-time tax evaders. More specifically, you can qualify for whistleblower payments if you turn in a tax cheat that owes at least $2M in unpaid taxes.
According to an AP report, former Swiss banker Bradley Birkenfeld exposed widespread tax evasion at Swiss bank UBS AG. Birkenfeld wound up spend 2.5 years in prison for conspiracy to commit fraud, but was ultimately awarded $104M in whistleblower payments.
Given that whistleblowers typically receive 15-30% of the taxes due, Birkenfeld’s information appears to have led to the recovery of somewhere between $350M and $700M in unpaid taxes. That being said…
Sen. Chuck Grassley has gone on record stating that the amount recovered was in the “billions”, though politicians have been known to exaggerate and/or stretch the truth every once in awhile. 😉
Source: AP News
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