According to the IRS, taxpayers underpay their taxes by some $300 billion. If you know someone that is contributing to that deficit, the IRS may be willing to pay you up to $10 million for the information you provide. The bigger the cheating you report, the more you're likely to receive.
The most important thing to claim your reward is quality documentation. Without documentation of the cheating going on, it's unlikely that the IRS will investigate the charges and thus no money bonus for you. As might be expected, the IRS receives a lot of information that is merely a hunch or because someone is trying to get back at somebody.
If you feel you have information and documentation to back up your report, the IRS would be extremely interested in hearing from you. You can contact the IRS toll free at 1-800-829-0433 if you suspect tax fraud. When contacting them, you'll be expected to provided the following information:
1. Your name or an alias
2. The name and address of the person you're reporting
3. The length the tax fraud has taken place including the years
4. The social security number or Employer Identification Number of the person you're reporting.
5. Any relevant financial records which pertain to the fraud.
6. Any documents or records which substantiate the fraud.
7. The date of birth of the person you're reporting.
The rewards for reporting the tax cheat can be hefty. If the IRS does investigate and recover money from your information, you may be entitled to anywhere from 1% and 15% of the money they recover - up to $10 million. The IRS has a minimum payout of $100 which means any tax cheating reported has to be in the thousands of dollars for any chance of you receiving a reward. For more information on the rewards, you can visit www.irs.gov and look at publication 733 - Rewards for Information Provided by Individuals to the Internal Revenue Service.
Copyright (c) Jeffrey Strain. He is owner of http://www.newtaxdeductions.com - a website dedicated to helping you save money on your taxes.
Culver prom limo ..In the rush to get tax returns prepared and filed... Read More
When buying a business, how the "purchase price" is made... Read More
If you are environmentally conscious and purchase a 2005 Ford... Read More
Small Businesses Filing Amended Federal Tax Returns to... Read More
Most people look forward to getting their tax return, but... Read More
In elementary school, kids come up with creative excuses why... Read More
Following is a reproduction of the IRS's rules and requirements... Read More
We need real tax reform and we need it now.... Read More
Many taxpayers are confused about how long they should keep... Read More
How Home-Based Businesses Can Avoid Giving Uncle Sam... Read More
OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon... Read More
As we enter mid-March, taxpayers begin to become very interested... Read More
Once a year Canadian taxpayers are required, by law, to... Read More
Does your incorporated business pay alternative minimum tax ["AMT]? If... Read More
Six Urban Myths ? Taxation"I am proud to be paying... Read More
Hit a big one? With more and more gambling establishments,... Read More
So, you were pleasantly surprised to learn that you are... Read More
The Internal Revenue Service has certified the 2006 Toyota Highlander... Read More
Many Americans believe that an IRS debt is a debt... Read More
Have you been thinking about incorporating your small business or... Read More
Over 50% of marriages end in divorce in the United... Read More
NOTE: This is the first in a series of 5... Read More
Why a Corporation Helps Save You TaxesThe Tax Rates (Notice... Read More
An early distribution from an Individual Retirement Arrangement (IRA) or... Read More
Does this scene sound familiar? It's April 7. You haven't... Read More
Wood Dale limo ..As an employer, you must pay employment taxes if you... Read More
The Sarbanes-Oxley Act, also called the Public Company Accounting Reform... Read More
Your days as an entrepreneur and businessperson are consumed with... Read More
Tilting the Tax Laws in Your Favor.In order to accelerate... Read More
QUESTION: I have been contacted by my local city... Read More
Estate taxes. It's not enough to simply know they exist,... Read More
1812The first attempt to impose an income tax on America... Read More
While there are many equally valid reasons to incorporate, saving... Read More
How about a Tax Tip?As we all know Taxes are... Read More
Adding Your First Additional Stream of IncomeMost new wealth builders... Read More
Are you in the middle of a disagreement with the... Read More
Just image, you are a small manufacturing company, business has... Read More
Managing a business small, medium or big requires you to... Read More
The 100 year old investment-banking firm of... Read More
Choosing the right tax preparer for your business is a... Read More
Reservists called to active duty and enlistees in the armed... Read More
One way to maximize your business profits is by reducing... Read More
An early distribution from an Individual Retirement Arrangement (IRA) or... Read More
If you have employees, you are responsible for paying a... Read More
In the largest criminal tax case ever filed, KMPG has... Read More
As your business grows, you are going to need help.... Read More
For many business owners the answer to this quandary is... Read More
If you have recently started an Internet or home business,... Read More
Assume a buyer in Pakistan downloads software from the Internet... Read More
Most people look forward to getting their tax return, but... Read More
Tax |