Tuesday March 2, 2010 19:30

Rewards for reporting tax cheats

Posted by Alex as Taxes

Looking to make a few bucks? Drop the dime on tax cheats and get paid.

With the government facing a deficit, the IRS is really looking to maximize the opportunity to collect internal revenue that offering rewards for those who’d be turning in tax cheats is still part of the IRS’ program. Now’s your time to get revenge on that tax evading boss or ex.

The informant program has been around for almost a century and a half. Snitches can get up to 15% of the amount underpaid up to $10 million. So if you know a multi-million tax cheat, fess up and be a millionaire.

This is why if you’re doing anything illegal, best let no one know about it. Not your best friend. Not your wife. And not even some random stranger you meet in some weird place. Sometimes these things would just come around and bit you in the butt. Best option still is not to do anything illegal at all.

If you want to rat someone out, the information is available on the IRS Web site, or call the IRS tip line at 1-800-829-0433.

Source: CNN

Related posts:

  1. October 15 deadline for tax filing extension
  2. IRS hunts down offshore tax evaders
  3. 4 tax breaks that you can maximize
  4. Tax deadline: Can’t pay? Don’t panic
  5. How to use your tax refund

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