FinanceRegs.com » Who’s looking over your shoulder?

Who’s looking over your shoulder?

October 22, 2008 by Carol Katarsky
Posted in: Communication, Fraud prevention, Hiring & training staff, In this week's e-newsletter, Internal controls, IRS regs, Latest news & views, Tax compliance

Some IRS changes could make your colleagues more likely to play super-sleuth when it comes to spotting financial wrongdoing (real or imagined).

IRS is exhausting every angle to bring in more of the tax dollars we all know go uncollected each year. As part of its efforts, it’s “improving” the Whistleblower program to make it more appealing for people to turn in friends, relatives and even companies they suspect of tax shenanigans.

The most recent change grants informants more confidentiality. Now, to file a complaint, the only personal info would-be whistle-blowers have to give IRS is their state of legal residence.

Previously, IRS also increased the potential award whistle-blowers could get if their tips paid off in recovered tax dollars for the government. Currently, informants can get 15% to 30%  of whatever’s collected — depending on the size of the case itself.

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