Proposed office would get tax information from whistle-blowersThe Associated Press Jun 19, 2004WASHINGTON - Believe your company is cheating the IRS out of millions in taxes?
Pass along the inside information to the Internal Revenue Service and you stand to collect up to 30 percent of taxes and penalties recovered under whistle-blower legislation aimed at snaring high-dollar tax cheats.
The proposed IRS Whistleblower Office is designed to give tax agents an inside advantage when fighting complicated, often invisible tax shelters developed for and used by wealthy taxpayers and corporations.
It would go after people and corporations with more than $200,000 in income who use shelters that hide $20,000 or more.
The office is a tiny item in a massive corporate tax bill passed by the Senate. The version of the bill passed in the House does not include such an office.
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