IRS Whistleblower Protection: What you should know

Under the IRS Whistleblower Reward plan, an individual or an entity that exposes

IRS Fraud can obtain an award of 15% to 30% of the profits recovered by the Internal Revenue Services. To qualify for the award, the penalties, interest, the additional tax amount in dispute should exceed $2 million, as well as, if the purportedly recalcitrant person is an individual, the gross income should be more than $200,000.

Let see the activities those are considered as IRS fraud

Some instances of Tax/IRS fraud are mentioned below:

Intentionally underreporting and omitting income

Hiding assets or income

Overstating the amount of deductions

Failing to report earnings in stock exchange

Maintaining 2 sets of books

Making wrong entries in records

Misusing trusts

Abusing charitable deductions

Claiming false deductions

How Internal Revenue Service protect whistleblowers

The IRS will preserve the privacy of the whistleblower's identity all the way through the initial investigation process. However, the whistleblower's acknowledgment or testimony is required in a legal proceeding for further investigation; the whistleblower's identity may be exposed in front of the judge.

When do you need an IRS whistleblower attorney?

The IRS is getting cheated every year all the way through non-payment of taxes of $350 billion. And they have come up with a reward of one million dollars for whistleblowers. However, there should be precision in what you are reporting and if the individual really are in debt taxes, the IRS will certainly reward you. For instance, if you are working for a company who is deceitful on taxes and you recognize that it is more than 10 million dollars, you may be the 1st person to report it to the Internal Revenue Service. And they will immediately start investigation to collect the back taxes. Most important is that you will get around $2 million to $3 million as a reward. But most of the times the IRS rejects the claim, and they will not tell you the exact reason. At that moment you will require expert for a counsel to evaluate the legal and technical obstructions to your claim. Hiring an IRS whistleblower attorney will be the best option. They will perform a wide range of services for you during the claim period and will give you opinion on whether your claim will result in reward or not

IRS Whistleblower Protection: What you should know

By: James Blatt

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