A whistleblower who has not been named,says that JPMorgan's misdeeds concerning pension funds violated IRS rules and that the company did not comply with its fiduciary responsibility by favoring its own funds.
The whistleblower, is a former JPMorgan employee who is working with the U.S. Securities and Exchange Commission early in its investigation, has filed...
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Category: IRS Whistleblower
Senator Grassley presses bill to charge up IRS whistleblower program
Senator Chuck Grassley is on the move to change the IRA whistleblower program t better IRS treatment of tax fraud whistleblowers, enhanced rights of taxpayers whose personal information is improperly accessed by IRS employees, extended time for taxpayers to contest an IRS levy, greater protections for taxpayers where the IRS improperly levied a taxpayer's...
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IRS tax expert takes down on-line drug lord
There is an interesting article in the December 25 New York Times about Gary L. Alford a special agent with the Internal Revenue Service assigned to work with the Drug Enforcement Administration (DEA). It appears that Alford, 38, figured out who was running a web site called Silk Road, which was selling $300,000 of...
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Government report says IRS whistleblowers awarded over $315 million since 2011
A Government Accountability Office Report says that the IRS Whistleblower Office has issued 500 awards to whistleblowers which exceeds $315 million in claims paid since 2011. It says IRS currently has 30,152 open claims, which, if investigated, could result in the recovery of hundreds of billions of dollars from tax cheats.
The GAO made ten...
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IRS awards $11.6 million to whistleblower and says more large payouts coming
The Internal Revenue Service has awarded $11.6 million to a whistleblower this week and said that as many as 10 more payouts will be announced shortly by the agency. Under the IRS whistleblower program whistleblowers reporting cases involving $2 million or more of unpaid taxes are eligible for awards as much as 30% of...
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Cuts to IRS budget boon to criminals, tax cheats and hackers: Ron Wyden says
Proposed cuts to the IRS's budget, saying the move is a boon to tax cheats and hackers says Senator Ron Wyden from Oregon. The ranking member on the Finance Committee, said in a letter Wednesday that past and pending budget cuts have forced the tax agency to pull back on its enforcement work and...
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IRS spends $2.7 million on tool that paid out $39 million to crooks
The Internal Revenue Service reports paid $2.7 million for a system that allows citizens to obtain previous year tax returns but also allowed crooks to get $39 million of taxpayer funds. In May, the IRS announced that crooks had used the same tool,...
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US Internal Revenue staff in Israel to exchange info on tax evaders
The United States Internal Revenue Service (IRS) has sent a delegation to Israel for the purpose of meeting with the Israel Tax Authority to create an agreement to exchange information about accounts of US customers in Israel and Israeli customers in the U.S.
In line with its recent dealings...
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IRS releases new whistleblower “enhanced” reward guidelines which will mean larger amounts
The IRS has released new regulations which include guidelines for its whistleblower award program.
Under the final regulations, the IRS is expanding the definition of "collected proceeds" to include not only how much revenue the IRS collects from the whistleblower tip, but also the impact of other tax attributes such...
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IRS releases info detailing $53 million paid to whistleblowers in 2013
The Internal Revenue Service (IRS) has released figures stating that it had paid at least $53 million to whistleblowers during 2013 as part of its informant award program. These whistleblowers, who received an average bounty of $435,000, provided information that led to the assessment and collection of more than $367...
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