Blowing the Whistle for the IRS

Most people would just love to get money from the IRS, and not just their regular tax refund, but instead a major chunk of change that would set them up for life.

While this isn’t always a reality for everyone, getting a large payment from the IRS is entirely possible depending on what is done to achieve that goal. “In this instance, all a person would need to know is how to access the IRS Whistleblower Reward Program and then have pertinent information that pans out,” outlined Deborah Barron, of the Barron Law Office in Sacramento, California.

All the IRS wants from people who access the Whistleblower Program is for them to step up and report tax fraud. It’s that simple, and yet that complex all in the same breath. “It takes a great deal of courage to step forward and be counted and identify tax fraud,” added Barron.

This particular rewards program actually pays out a hefty amount of money based on a percentage of any underpaid taxes recovered by the IRS. The percentages aren’t small potatoes either and range from 15% to 30% of the money the IRS recovers. They keep the balance, of course.

The bigger the tax fraud reported, and subsequently verified and acted upon to obtain recovery, the bigger the reward payout. “For instance, let’s just make mention of one well-known $3.4 billion tax recovery from a major drug company who had been cheating on their taxes. They’d been participating in offshore tax fraud and someone blew the whistle,” explained Barron.

It seems like it was a good year for drug companies to pay the piper what was stolen, as yet another drug company had to ante up $2.3 billion to settle on allegations of tax evasion. This particular big Pharma outfit shifted profits offshore and once again, someone objected to the less than honest tactics and turned them in. “In both instances, the whistleblower rewards ranged as high as $1 billion. Imagine that kind of money for merely telling the truth,” said Deborah Barron, of the Barron Law Office in Sacramento, California.

The kind of tax evasion that typically pays the bigger rewards to whistleblowers are instances where a company (drug, high tech, telecommunications, etc.) is hiding ownership of patents and other large assets (manufacturing processes, franchises) or other intangible property rights to an offshore company it either owns or is affiliated with in some way.

If someone has reliable evidence of schemes like the ones discussed here, the IRS will get on it. If there are taxes owing and they collect, there is a reward. This is a real short cut to becoming a billionaire.

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