IRS WHISTLEBLOWER AWARDED $38 MILLION11 / 11 / 2012
Attorney Reports on Whistleblower Reward of $38 Million (October 29, 2012)
Attorney Scott Knott, of the Ferraro Law Firm reports that the IRS has now awarded a $38 million reward, implementing a "reduced" withholding agreement to take into account the above-the-line deduction for attorneys fees. As Knott reports, the IRS adhered to its field directives issued in June 2012 once it got near the determination phase of reward review. The whistleblower is reported to have disclosed information on a corporate tax avoidance scheme at a Fortune 500 company. Source: Tax Notes Today, 2012 TNT 209-5 (October 26, 2012).