Todays “Asset Search News Roundup” mentions whistleblower programs:
- An Asset Search Via Whistleblowers & Other Tipsters comments on IRS and SEC efforts to sniff out fraudulently concealed assets with the help of reward programs. Forbes’ March 2nd article IRS Whistleblowers See Little Reward, also describes these programs. The article compares one to the other and too discusses whistleblowing via “qui tam” lawsuits under the False Claims Act.
- The IRS has just revised its whistleblower program rule at 26 CFR Part 301 §7623–1, Rewards and awards for information relating to violations of internal revenue laws. This revision clarified the definition of “proceeds of amounts collected” and “collected proceeds”, as mentioned by §7623-1 (a). The revised rule was published in the February 22, 2012 Federal Register, available by clicking here.
Copyright 2012 Fred L. Abrams