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It pays to be Whistleblower : Reward for reporting tax evasion to IRS
Posted by TJ on Thursday January 24, 2008 @ 11:34 AM
[Tags: accounting, links, taxes]



Want to be an instant millionaire?

Report tax evasion to the IRS.

Under IRC Section 7623 the IRS authorizes the payment of awards from the proceeds of amounts the IRS collects by reason of the information provided by an individual (aka the Whistleblower). The reward is between 15-30% of the tax recovered depending on the amount of information you provide. So if you provide information that leads to the IRS recovering $10 million in taxes you could be an instant millionaire!

To be eligble the amount in dispute must exceed $2 million dollars (including tax,interest,penalties, etc.) and taxable income for the violator must exceed 200k in any year of issue.

Oh and don't forget to claim your reward on your tax return, as yes... it is subject to income tax.

To file a claim use Form 211 Download Here



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