Need Some Extra Money, Ever Considered the Lucrative Job of IRS Snitch For Hire?

You're building a rat ship here — a vessel for sea-going snitches. And if you think you're preparing these minnows for manhood, you better think again. Because I say you are killing the very spirit this institution proclaims it instills! What a sham!

-Lt. Colonol Frank Slade, Scent of a Woman (1992)

Well, former Swiss banker, Bradley Birkenfeld, is out of a job as a banker, but he's banking just fine anyway.  Birkenfeld served over 2 years in prison for a fraud conspiracy related to a scheme of widespread tax evasion at his former employer, Swiss Bank, UBS AG.  UBS was hit with a $780 million fine for the scheme.

But don't feel too bad for "Brad." The IRS has paid him off for identifying and turning over information about offshore tax cheats involved in the scheme to the tune of $104 million.

So, if you are stalled in contract negotiations with the Lakers or the Yankees, you might consider a career switch to the very lucrative job of IRS snitch, it pays to fink! But, Brad, don't forget to pay your taxes. Penalties and interest on $104 million in income can be steep for an otherwise unemployed bank teller.  

Travis Watkins
Senior Tax Attorney
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