Wednesday, October 31, 2012

Another Whistleblower Gets Millions for Exposing Tax Avoidance Schemes

A tax whistleblower received a $2 million reward from the Internal Revenue Service for his role uncovering an alleged multimillion-dollar tax-avoidance scheme attempted by Illinois Tool Works Inc in the late 1990s.

The informant is a Wall Street banker who remained anonymous to protect his career.

Last year, the IRS Whistleblower Office awarded him $1.1 million for information about abusive tax shelters allegedly set up by Wall Street banks to help Enron evade taxes on more than $600 million of taxable income. The individual testified about the IRS whistleblower program in 2004 as a confidential witness, known as “Mr. ABC,” before the Senate Finance Committee.

Most tax-whistleblower cases take between 5 - 7 years to be resolved, in part because whistleblowers aren't paid until after the IRS is paid and the taxpayer's time to appeal has expired.

If you want to be a Wistle Blower or are Victum of a Wistle Blower, contact the Tax Lawyers at Marini & Associates, P.A. for a FREE Tax Consultation at or or Toll Free at 888-8TaxAid (888 882-9243).


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