Be an IRS Whistleblower


If you suspect someone you know of evading taxes, you could become an IRS whistleblower and be handsomely rewarded. The bigger the amount of taxes the IRS retrieves, the bigger your reward is. The IRS has two reward incentives – for those who report cases of less than $2 million in taxes, there’s the small awards program that rewards you with as high as 15% of the taxes collected, then for those who bring in cases of $2 million or more in taxes, there’s the large awards program where you stand to get as much as 30% of the taxes recouped.

But the downside of the awards programs is that it takes a lot of time for the IRS to resolve each case. And the IRS does not accept every case that is brought to it, either. Often, there is a lot of procedure involved to get the IRS to consider and accept your case. Furthermore, although the IRS undertakes to protect your privacy, there is no guarantee you will not be sued by, say your employer who you turn in.

In April this year, the IRS made its first award in the large awards program – $4.5 million awarded to an unnamed former accountant of a large financial services firm. This amount came up to 22% of the tax collected.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

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