On August 7, 2018 we posted IRS Win In Altera Cost-Sharing Row Withdrawn? where we discussed that the Tax Court had sided with Altera Corp., an Intel subsidiary, in the case in July 2015 after finding that the IRS had ignored significant evidence and public comments while issuing its rule requiring cost-sharing agreements between related parties to…
Read more
IRS Whistleblower Office Collects Over $1.44 Billion & Paid a Record $312M to Tipsters
The IRS’s Whistleblower Office collected over $1.44 billion and awarded 217 whistleblowers $312 million in fiscal year 2018. The 2018 Whistleblower Program Annual Report to Congress is available on IRS.gov. The Internal Revenue Service’s Whistleblower Program made 217 awards to whistleblowers totaling $312,207,590 and collected $1,441,255,859 in fiscal year 2018, according to a new report.The annual…
Read more
Whistleblower Program: Final Orders/Award Determinations
Whistleblowers who submitted a tip, complaint, or referral (Form TCR) are sometimes eligible to receive a percentage of the monetary sanctions collected in a CFTC action. This page contains Final Orders of the Commission and related Award Determinations regarding award applications submitted on a Form WB-APP. Award determinations can either deny or grant an award.…
Read more
Few Accuracy-Related Penalties Are Proposed In LB&I Examinations snd They Are Generally Not Sustained On Appeal
According to TIGTA'S Final Report issued on May 31, 2019, few accuracy-related penalties are proposed in LB&I examinations and they are generally not sustained on appeal. Highlights of Reference Number: 2019-30-036 to the Commissioner of Internal Revenue. IMPACT ON TAXPAYERS Taxpayers who underreport their income tax may be subject to accuracy-related penalties (Internal Revenue Code Section…
Read more
