Know A Tax Cheat? Get Paid To Tell The IRS

According to the IRS, taxpayers underpay their taxes by some $300 billion. If you know someone that is contributing to that deficit, the IRS may be willing to pay you up to $10 million for the information you provide. The bigger the cheating you report, the more you're likely to receive.

The most important thing to claim your reward is quality documentation. Without documentation of the cheating going on, it's unlikely that the IRS will investigate the charges and thus no money bonus for you. As might be expected, the IRS receives a lot of information that is merely a hunch or because someone is trying to get back at somebody.

If you feel you have information and documentation to back up your report, the IRS would be extremely interested in hearing from you. You can contact the IRS toll free at 1-800-829-0433 if you suspect tax fraud. When contacting them, you'll be expected to provided the following information:

1. Your name or an alias

2. The name and address of the person you're reporting

3. The length the tax fraud has taken place including the years

4. The social security number or Employer Identification Number of the person you're reporting.

5. Any relevant financial records which pertain to the fraud.

6. Any documents or records which substantiate the fraud.

7. The date of birth of the person you're reporting.

The rewards for reporting the tax cheat can be hefty. If the IRS does investigate and recover money from your information, you may be entitled to anywhere from 1% and 15% of the money they recover - up to $10 million. The IRS has a minimum payout of $100 which means any tax cheating reported has to be in the thousands of dollars for any chance of you receiving a reward. For more information on the rewards, you can visit www.irs.gov and look at publication 733 - Rewards for Information Provided by Individuals to the Internal Revenue Service.

Copyright (c) Jeffrey Strain. He is owner of http://www.newtaxdeductions.com - a website dedicated to helping you save money on your taxes.

---

Take Control of Your Taxes

As everyone in the U.S. knows, we have just passed... Read More

Paying Workers ? What Can You Write-Off?

As your business grows, you are going to need help.... Read More

Are You Overpaying Taxes If You Use Tax Preparation Software?

For many business owners the answer to this quandary is... Read More

Failure To Pay Employment Taxes ? Penalties

As an employer, you must pay employment taxes if you... Read More

Home Business Tax Tips

If you have recently started an Internet or home business,... Read More

Access to E-records by Taxing Authorities: A Case for Pakistan (Part I)

Background issues of access to recordsTo assess the records at... Read More

State Tax Information

All states also have their own tax system. Typically there... Read More

Seven Key Tax Deductions for the Self Employed

As a sole proprietor, it's wise to familiarize yourself with... Read More

Taxation of Forgiven Debt: The 1099C & You

Often people fall on hard times and stop paying on... Read More

Save Money on Taxes - Let Uncle Sam Pay for Your Fun!

"Deducting Meals and Entertainment"O.K. You've been working really hard on... Read More

Where to Find Tax Breaks for Your Home Based Business

April 15th looms in front of most people every year... Read More

Tax Trap #1 -- Waiting to Incorporate: What A Difference A Date Can Make

NOTE: This is the first in a series of 5... Read More

Tax Reform, My Way

We need real tax reform and we need it now.... Read More

What You Need To Know About Taxes If You?re Getting Married

It may not be high on the list of wedding... Read More

10 Thoughts on Tax Offer in Compromise

Beware of advertisements that claim to settle tax debts for... Read More

Alas! In E-Commerce Taxland

In trying to comply with tax laws for your e-business,... Read More

Save Money on Taxes - Is the Only Way to Get Your Tax Savings is to Sleep With an IRS Agent?

Tilting the Tax Laws in Your Favor.In order to accelerate... Read More

Send Your Kids To Summer Camp and Write It Off

If you paid someone to care for a child so... Read More

Tax Help Secret: Avoiding the Entreprenuers Curse

Your days as an entrepreneur and businessperson are consumed with... Read More

How to Reduce the Estate Tax Using the A-B Revocable Living Trust

In a past article I relayed the plight of the... Read More

Tax Investigation - What You Need To Do

The knock on the door from a Tax Inspector is... Read More

Gambling Income and Expenses - Tax Requirements

Hit a big one? With more and more gambling establishments,... Read More

Tax Strategy - Let Washington Pay for Your Corvette, Porsche, or Air Plane

Deducting Your Auto ExpensesAuto deductions are a very complex topic.... Read More

Tax Trap #4 -- The Quagmire of Depreciation

If you are a Small Business Owner or Self-Employed Person,... Read More

Know A Tax Cheat? Get Paid To Tell The IRS

According to the IRS, taxpayers underpay their taxes by some... Read More