Know A
Tax Cheat? Get Paid To Tell The IRS
by: Jeffrey Strain
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:
- Your name or an alias
- The name and address
of the person you're reporting
- The length the tax
fraud has taken place including the years
- The social security
number or Employer Identification Number of the
person you're reporting.
- Any relevant
financial records which pertain to the fraud.
- Any documents or
records which substantiate the fraud.
- 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
http://www.irs.gov and look at publication 733 -
Rewards for Information Provided by Individuals to the
Internal Revenue Service.
