The Internal Revenue Service has expanded its awards to whistleblowers, allowing tipsters to claim a potentially greater share of the proceeds the IRS collects on extra tax revenue.
The final regulations released Thursday provide guidance for the whistleblower award program for information relating to detecting underpayments of tax or violations of tax laws, under Section 7623 of the Tax Code. The regulations provide guidance on submitting information regarding underpayments of tax or violations of the tax laws and filing claims for an award, along with the administrative proceedings applicable to claims for whistleblower awards. The regulations also provide guidance on the determination and payment of awards, and provide definitions of some key terms used in Section 7623.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access