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“Congress settles ‘collected proceeds’ question on IRS whistleblower awards”

Phillips & Cohen attorney Edward H. Arens was cited in a US Tax Watch article about recent action taken by Congress to amend a law regarding rewards for whistleblowers. The changes to the statute clarify that “whistleblowers should receive an award based on all the dollars – including payments from criminal fines and civil forfeitures – collected by the Internal Revenue Service because of information they provide.” Mr. Arens contextualizes the changes:

“Prior to this amendment, whistleblowers with information about offshore tax avoidance were at risk of not getting an award if the IRS pursued the case criminally and not civilly,” said Edward H. Arens, a whistleblower attorney with the Phillips & Cohen law firm. “That’s no longer the case. This amendment makes whistleblower actions arising out of undeclared bank accounts and offshore tax abuse much more viable.”

Read the full article in MLex’s US Tax Watch (subscription required).

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