Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

Tax Whistleblowers – $104 Million IRS Award to Mr. Birkenfeld (UBS) Yet Nothing for Mr. Insinga (RABO)?

Posted by William Byrnes on February 9, 2014


 

Since its creation, the IRS Whistleblower Office has received over 1,300 tips. However, before pursuing tips analysts must first determine that a federal tax issue is involved and not based merely on speculation or conjecture.  The majority of the tips come from employees or former employees of companies that do not necessarily adhere to federal tax laws.  Tips deemed credible may lead to three different avenues, such as (1) a new audit, (2) expansion of a current audit, or (3) criminal investigation.

However, once the office makes an award determination, the Tax Court has authority to hear appeals resulting from claim disputes.

Read author Dawna Snipes‘ article on recent developments at > AdvisorFYI  < .  Dawna Snipes is an adjunct professor of National College of Business and Technology, and also with the University of Phoenix.

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