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Americans Seeking Reward Money Inform IRS on Others

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Ryan J. Donmoyer
Bloomberg
May 5, 2010

Americans seeking reward money are turning in neighbors, clients and employers they suspect of cheating on taxes to the IRS at a rate of nearly eight per day, the director of the agency’s whistleblower program said.

Steve Whitlock, the director, told an audience of about 200 lawyers, investigators and government officials at a Miami Beach conference on offshore banking that his office receives 40 to 50 tips per month alleging tax liability in excess of $2 million. Americans submit another 200 per month alleging smaller violations, he said.

Whitlock said submissions have surged since the enactment in 2006 of a law that requires the Internal Revenue Service to pay awards of between 15 percent and 30 percent in cases where more than $2 million is collected. Prior to the law, both the decision on whether to make an award and the amount of payment were discretionary.

“Right after we got the new law” containing the minimum award, “the fax machine was running the next day,” Whitlock told the Offshore Alert Financial Due Diligence Conference.

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This article was posted: Wednesday, May 5, 2010 at 10:18 am





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