William Byrnes' Tax, Wealth, and Risk Intelligence

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

Posts Tagged ‘Whistleblower’

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.

Posted in Taxation | Tagged: | Leave a Comment »

Dodd-Frank Whistleblowing—Rewarding the Robbers?

Posted by William Byrnes on September 13, 2011

Dodd-Frank’s whistleblower provisions may be more effective than originally anticipated, but will they lead to increased corporate compliance?

The whistle blower rules have received cristicism from some who believe the procedures will hinder compliance procedures rather than improve them. The liberal Whistleblower provisions have also raised concerns about the already overcommitted SEC being overwhelmed by frivolous claims by employees who view the program as a lottery with multi-million dollar payouts.

Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).

For previous coverage of Dodd-Frank updates in Advisor’s Journal, see Is Barney Frank’s Resolve to Implement Dodd-Frank Weakening? (CC 11-95).

Posted in Wealth Management | Tagged: , , , , , , , | Leave a Comment »

%d bloggers like this: