A whistleblower who provides the IRS with information about another party’s unpaid taxes may be entitled to a financial award. The IRS Whistleblower Office just released its annual report. In fiscal year 2020, it paid out 169 awards totaling $86.6 million. Proceeds collected during the year totaled $472 million. Whistleblower claims assigned in FY 2020 decreased by 20% from those submitted in FY 2019 and closures decreased by 33%, the report states. Awards aren’t paid quickly. Generally, the IRS doesn’t pay awards for at least 8 years after a whistleblower files a claim because a payment can’t be made until there’s a final determination of proceeds. To read the report: https://bit.ly/2X9AYCG Call or visit our website for more information! www.mjscpa.com/
