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IRS Reviews Bounties on Tax Evaders

WASHINGTON (CN) - The Internal Revenue Service seeks comments on rule changes affecting tax whistleblowers.

The IRS proposed a rule change to clarify when whistleblowers can get awards, based on money collected from reports of underpayments or violations of tax laws.

The current regulation "provides that qualifying individuals will receive an award of at least 15 percent, but not more than 30 percent, of the collected proceeds resulting from the action with which the Secretary proceeded based on the information provided to the IRS from the individual."

The proposed rule change provides guidance on award payment, defines key terms and clarifies circumstances in which employees and officers of the Whistleblower Office are allowed to disclose information when they conduct hearings.

The IRS requests comments through Feb. 19, 2013. A meeting is not planned but may be requested by that date.

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