by Marie S.
There have been people who have evaded paying taxes purposefully. This is a deterrent to the government’s efforts to stabilize government funds. Though becoming a crisis to the government, it is becoming a source of income to a number.
With reference to Section 406 of the Tax Relief and Health Care Act of 2006 (“the Act’), signed by the President on December 20, 2006, the IRS’s whistleblower program was strengthened. This is through the increase of available rewards and the creation of a dependable enforcement system for whistleblowers to collect them.
The Internal Revenue Service revealed, during its annual report to Congress, that they were able to collect $367 million additional tax revenue from ill-willed tax evaders by means of tips received from the public. The public (whistleblower) receive 15% of the total tax collected from their reported tax scammer, only upon collection of said, unpaid taxes. In 2013, the IRS released more than $53 million as award for the said whistleblowers. The largest award ever received by a single man for giving tips on tax evaders is $104 million in the fiscal year 2012, which was awarded to Bradley Birkenfeld, a former banker.
Wouldn’t it be grand to help the government increase its funding and gain a few, in the process? If you know of people who are tax frauds you may want to report them.
But are you eligible to be a whistleblower? Below are some guidelines given by the TaxWhistleBlowers.Org.(Guidelines are different based on the amount of underpayments of tax to the United States government. For amounts less than $2 million, the guidelines below follow.)
WHO MAY SEEK A FORM 211 REWARD?
YOU MAY BE ELIGIBLE TO SUBMIT A FORM 211 CLAIM FOR A REWARD, UNLESS:
(a) You were employed by the Department of the Treasury at the time you received or provided the Information; or
(b) You are a present or former federal employee who received the information in the course of your official duties.
For more information, you might like to visit: http://www.taxwhistleblowers.org/main/page.php?page_id=2.
Question now is, would you do this for your country, or for mere pleasure of receiving money?