by Ben Vernia | May 4th, 2011
The Philadelphia Inquirer reported on April 9 that an unnamed Philadelphia accountant, received the first award under the 5-year-old IRS whistleblower program. The accountant worked for an unidentified financial services firm which he reported for tax violations. The firm ultimately paid $20 million, including interest and penalties, and the whistleblower’s attorney received a check for $3.24 million – a $4.5 million award, minus 28% withholding.
The newspaper quoted Senator Charles Grassley as saying of the IRS’s handling of the program: “Quite frankly, I’m shocked that they finally got around to using it.”