The Internal Revenue Service has finalized its regulations on paying rewards to whistleblowers for up to 30 percent of the proceeds collected for helping the IRS detect underpayments and violations of the tax laws.

TD 9580, “Rewards and Awards for Information Relating to Violations of Internal Revenue Laws; Final Regulations,” went live on the Federal Register website Tuesday, with a Feb. 22, 2012, publication date. The guidance clarifies the definition of proceeds of amounts collected and collected proceeds under Section 7623 of the Tax Code, and provides needed guidance to the general public as well as officers and employees of the IRS who review whistleblower claims.

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