Friday, June 20, 2014

Tax whistleblower news summary for week of June 16

The IRS announced changes to its offshore voluntary compliance programs this week, enforcing harsher restrictions on US citizens who deliberately dodge taxes through illegal actions, while easing penalties for citizens who unintentionally evade taxes. The revised programs include a 50 percent penalty on offshore accounts if there is publicity about the IRS or the Justice Department investigating a financial institution where the person holds an account. (IRS Makes Changes to Offshore Programs; Revisions Ease Burden and Help More Taxpayers Come into Compliance)

Friday, June 6, 2014

Tax whistleblower news summary for week of June 2

A U.S. Tax Court ruling this week keeps alive an IRS whistleblower case seeking a $9 million whistleblower reward. The whistleblower claims the IRS recovered $30 million as a result of information the whistleblower provided to the IRS. (United States Tax Court, Whistleblower 10949-13W)