Snitching Pays

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The IRS paid out it’s first award for whistle blowing. An accountant from Philadelphia tipped off the IRS that his employer had been dodging taxes and owed a significant amount of money. Talk about a disgruntled worker. The information brought the IRS $20 million, $4.5 million of which went back to the squealer ($3.24 million after taxes). Not a bad cut in any profession. The IRS has started offering these rewards as an incentive to give information, and the payoff is guaranteed to be 15-30% of the amount they bring in. A word of advice for employers, if you’re dodging taxes you best be treating your employees well. Imagine if they paid the guy who brought down Madoff and his ponzi scheme at that rate.

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Posted on April 8, 2011, in News and tagged . Bookmark the permalink. Leave a comment.

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