People that cheat the government affects all of us as we will end up paying an extra $1,000 a year to cover the cheating amounts.
We can, however do something about it and possibly get a reward of one million dollars right from the IRS! The IRS is now willing to pay whistle blowers rewards from 15% to 30% of what is recovered as per Congress.
The IRS can lose approximately $350 billion each year from individual taxpayers and businesses that cheat on their taxes.
So this rewards system is a way to recover some of that money.
Here's how to report IRS fraud.
Gathering the right information could be worth $100 million as there is no limit.
The IRS is actually willing to pay billions to anyone that reports evasion of taxes without even having to prove intention of cheating.
The reward is paid if they simply owe taxes.
Here's how the rewards program works.
If you work for a company that you believe is cheating on their taxes and you report it by following the guidelines of the program, an investigation will follow by the IRS and they collect the money.
You will then receive anywhere from $2 million to $3 million.
You gotta love this, right? There is no need to worry about your name being revealed as this rewards program is anonymous regardless of the amount you receive.
It does however require more than just submitting a form or making a phone call to a hot line.
It is imperative that you meticulously follow every informal procedure and requirement.
Some pitfalls to watch out for are exactly how you present the information you have gathered.
This can determine whether you receive your reward or are rejected.
It doesn't matter what the circumstances are for the individual or company that has cheated the IRS out of money.
You can report IRS fraud even if they got misled from an attorney or tax accountant and they in fact owe money, you can still be entitled to a reward as long as it is within the past six years.
The IRS is desperate for your help.
No statute of limitations applies if they intentionally or willingly were fraudulent.
To be best armed with information such as documents and/or credible evidence to commit fraud will get you the best chance of being rewarded.
If you feel a person or business is being fraudulent, you can seek the advice of an attorney to better assist you in how to report IRS fraud and negotiating the amount you could be awarded.
The IRS could be giving you a lot less than what you actually deserve based on the money they will be collecting.
These deadbeats deserve what ever they get, why not cash in and be rewarded instead of having to pay for their fraudulence.