Login  |  Search  |  Powered By Doodlekit
IRS Press Release
warner mendenhall - Wed Dec 19, 2007 @ 01:33PM
Comments: 1

Interesting IRS Press release today on its qui tam provisions. Caution is always in order in filing one of these. Make sure your house is in order first. You will be the first audited and then your target gets audited.

Procedure Unveiled for Reporting Violations of the Tax Law,

Making Reward Claims

IR-2007-201, Dec. 19, 2007

WASHINGTON— The Internal Revenue Service today outlined ways informants can

report violations of the tax law and possibly claim a reward based on the amount of

additional tax, penalties and interest that is owed.

“Since Congress enacted new procedures increasing award amounts last year,

informants have come forward with information on alleged tax noncompliance

amounting to tens of millions of dollars, and in some cases hundreds of millions of

dollars,” said Stephen Whitlock, Director of the Whistleblower Office.

Since the Whistleblower Office was created in December 2006, the IRS has received

about 80 claims, half of those submitted in just the last two and a half months. To make

a claim, an informant must file new Form 211, Application for Award for Original

Information, which asks informants to provide an estimate of the tax owed, the pertinent

facts in the case and an explanation of how the informant obtained the information.

The IRS’ Whistleblower Office will make the final determination about whether an award

will be paid and the amount of the award for claims that it processes. Awards will be

paid in proportion to the value of information furnished voluntarily with respect to

proceeds collected.

Under the new procedures, the amount of award will be at least 15%, but no more than

30%, of the collected proceeds in cases in which the IRS determines that the

information submitted by the informant substantially contributed to the collection of tax.

The award percentage may be reduced in some circumstances, which are described in

IRS guidance.

To be eligible for an award under the new procedures, the tax, penalties, interest,

additions to tax, and additional amounts in dispute must exceed $2 million for any

taxable year and, if the taxpayer is an individual, the individual’s gross income must

exceed $200,000 for any taxable year in question.

All awards will be subject to normal tax reporting and withholding requirements.

Comments: 1

Comments

1. Anonymous   |   Sun Dec 04, 2016 @ 05:43PM

This is not a good thing that we are breaking the laws of the tax; I don’t know why we are feeling problems with the paying of the right amount of the tax, as you write on http://customessaysreviews.com/payforessay-net/ here. We should have to pay it.

Post a Comment




powered by Doodlekit™ Free Website Builder