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IRS Finalizes Rules for Whistleblower Awards Program

By Colby Adams

The Internal Revenue Service disclosed final rules set for publication next week that will clarify how and when informants can collect rewards for identifying tax cheats, but not money launderers. The 119-page rule, which stems from a 2006 law, outlines the stipulations of two whistleblower programs: one that that rewards informants who turn over "solid information" on individuals who owe more than $2 million and make more than $200,000 annually, and a secondary program that addresses lesser infractions by individuals with lower salaries. After proposing the regulations in December 2012, U.S. Treasury Department officials heard suggestions and complaints about the...

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