The Irs is Looking to Pay You One Billion Dollars!
How would you like to get a check for a billion dollars? The money is yours under the new IRS Whistleblower Reward Program. You just need to know what the IRS is looking for.
I met with the new Director of the IRS Whistleblower Office and asked him if he wants to pay a billion dollar reward and what it takes to get a lottery sized reward.
He smiled and stated a definite yes to the first question. He wants to hand a person an oversized check with many zeros. Because the reward program pays a whistleblower a percentage of the underpaid taxes the IRS recovers, the IRS wins when it pays big rewards. You get between 15 and 30 percent of what the IRS recovers, and it keeps the rest. It is a win-win.
The IRS recently unveiled the procedures a citizen must follow to be eligible for a reward, and they take effect as of January 14, 2008. I have posted the regulations on my website and have described them in layman terms. See http://www.HowToReportFraud.com.
What type of cases will bring in the largest rewards? Below are 2 real-life examples, followed by a description of other types of cases where you could earn $1 billion.
First, in 2006, the IRS collected $3.4 billion for underpaid taxes from GlaxoSmithKline. That company evaded taxes by making inter-company transactions to its foreign affiliates relating to patents and trademarks on just a few of its drugs. This is a form of offshore tax fraud.
Second, Merck, a large pharmaceutical company, paid the IRS $2.3 billion for tax evasion. It too shifted its profits offshore. In that scheme, Merck transferred the ownership of two drug patents (Zocor and Mevacor) to a shell of a company it formed in Bermuda.
Those 2 cases were brought by the IRS, and before the new reward program had been in place. If you had been the one to turn in the tax cheaters, the rewards could have been $1 billion in one case and $650 million in the other.
Many other companies are doing the same fraud schemes. It is not just limited to drug companies that shift assets or profits offshore to conceal income. High-tech companies are doing the same thing. The types of fraud include concealing ownership of patents or other valuable assets by transferring ownership of logos, manufacturing processes, and other intangible property rights to offshore companies.
The IRS is asking for help. It is willing to pay huge rewards if you have inside information that can help it prove fraud. Actually, it is not even necessary to prove fraud. The IRS reward program applies to any underpayment of taxes within the past 6 years. Even if the company received bad advice from a tax accountant or lawyer and it turns out that the money is still owed, you get a reward.
If you can show it was intentional fraud, there is no statute of limitations! You can go back 10 or 20 years. Of course, to get a reward, the IRS must collect funds. The IRS has stated that the best applications are those from persons who have documents or other direct and credible evidence of the fraud or underpayment of taxes.
In sum, because companies are cheating by more than $300 billion a year, the IRS is willing to pay 15 to 30 percent of what it recovers to you, if you are the one reporting it. The size of the reward is limited only by the amount of fraud committed.
What's stopping you? Visit my website for more details on the IRS reward program, and keep your eyes open. See http://www.HowToReportFraud.com. You could be a sudden billionaire.
I met with the new Director of the IRS Whistleblower Office and asked him if he wants to pay a billion dollar reward and what it takes to get a lottery sized reward.
He smiled and stated a definite yes to the first question. He wants to hand a person an oversized check with many zeros. Because the reward program pays a whistleblower a percentage of the underpaid taxes the IRS recovers, the IRS wins when it pays big rewards. You get between 15 and 30 percent of what the IRS recovers, and it keeps the rest. It is a win-win.
The IRS recently unveiled the procedures a citizen must follow to be eligible for a reward, and they take effect as of January 14, 2008. I have posted the regulations on my website and have described them in layman terms. See http://www.HowToReportFraud.com.
What type of cases will bring in the largest rewards? Below are 2 real-life examples, followed by a description of other types of cases where you could earn $1 billion.
First, in 2006, the IRS collected $3.4 billion for underpaid taxes from GlaxoSmithKline. That company evaded taxes by making inter-company transactions to its foreign affiliates relating to patents and trademarks on just a few of its drugs. This is a form of offshore tax fraud.
Second, Merck, a large pharmaceutical company, paid the IRS $2.3 billion for tax evasion. It too shifted its profits offshore. In that scheme, Merck transferred the ownership of two drug patents (Zocor and Mevacor) to a shell of a company it formed in Bermuda.
Those 2 cases were brought by the IRS, and before the new reward program had been in place. If you had been the one to turn in the tax cheaters, the rewards could have been $1 billion in one case and $650 million in the other.
Many other companies are doing the same fraud schemes. It is not just limited to drug companies that shift assets or profits offshore to conceal income. High-tech companies are doing the same thing. The types of fraud include concealing ownership of patents or other valuable assets by transferring ownership of logos, manufacturing processes, and other intangible property rights to offshore companies.
The IRS is asking for help. It is willing to pay huge rewards if you have inside information that can help it prove fraud. Actually, it is not even necessary to prove fraud. The IRS reward program applies to any underpayment of taxes within the past 6 years. Even if the company received bad advice from a tax accountant or lawyer and it turns out that the money is still owed, you get a reward.
If you can show it was intentional fraud, there is no statute of limitations! You can go back 10 or 20 years. Of course, to get a reward, the IRS must collect funds. The IRS has stated that the best applications are those from persons who have documents or other direct and credible evidence of the fraud or underpayment of taxes.
In sum, because companies are cheating by more than $300 billion a year, the IRS is willing to pay 15 to 30 percent of what it recovers to you, if you are the one reporting it. The size of the reward is limited only by the amount of fraud committed.
What's stopping you? Visit my website for more details on the IRS reward program, and keep your eyes open. See http://www.HowToReportFraud.com. You could be a sudden billionaire.
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