It is estimated that over the next 5 years around $26 billion will be lost due to tax fraud. Tax fraud is widespread, and it is a growing problem for the IRS. In order to help with this expanding issue, Congress approved a tax whistleblower law in 2006 called the False Claims Act. This law rewards individuals who provide the IRS with information about tax fraud and evasion. If you have information about tax fraud then you need to turn to JDKatz Attorneys at Law. Our experienced tax attorney in Maryland can give you the information that you need about whistleblowing and its rewards.
Before you decide to blow the whistle, there are a few things that you should know. First of all your reward could be up to 30% of what the IRS recovers. Secondly, only the first whistleblower to provide information will get paid. If several people come forward with the identical information, the reward could end up being denied or reduced. Thirdly if you are dissatisfied with the reward that you get from the IRS, you may be able to appeal the amount. In order to be rewarded, the amount of tax underpayments or tax fraud must be over $2 million.
Whistleblowing on your own can be confusing, and it is difficult to know if the reward that you are provided is a rightful one. Our Maryland tax lawyer can help guide you and give you the knowledge that you need to file your claim properly. If you have any information about tax fraud, contact us today for your free consultation. There may even be a reward in it for you.