What do you guys think of this? Would you ever report a boss, colleague, or family member in exchange for a reward from the IRS? I can’t say one way or the other if I would or not, as I guess it would depend on who it was and how much it was for. According to this article I just read at CNN, with the economy struggling to stay afloat, the IRS is expecting more tax cheats this filing year. And if you decided to turn in a tax cheat, you could receive up to 15% of the amount that has been underpaid, with a maximum award of $10 million. OK, for a $10 million dollar reward I would definitely turn someone in for sure!
The IRS has received tips from about 476 informants identifying 1,246 taxpayers in fiscal year 2008, the first full year the program was implemented.
“The program is already attracting an enormous number of quality tips,” said Paul Scott, a former Department of Justice trial attorney and current owner of law firm Paul D. Scott, where he represents whistle-blowers. “The volume of claims and/or tips they have been receiving with really substantial documentation or support has increased dramatically since the inception of this program.”
Scott said that since the new program began, his firm has received claims from whistle-blowers involving billions of dollars in taxes, penalties and interest.
So, what do you think? Would you turn in a tax cheat for a reward?