Saturday 25th of October 2014 12:42:40 AM

Posts Tagged ‘tax fraud’

  • Whistleblower Paid $38 Million

    Thursday 01st of November 2012 6:49:19 PM

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    After 4 years of investigation, the IRS pays $38 million to an anonymous whistleblower for helping retrieve somewhere between $127 million to $254 million dollars in corporate taxes.    This case has been the second largest payout to any whistleblower from the IRS.  The largest payout was in the amount of $104 million to Mr. Bradley C. Birkenfeld, a former employee at UBS (Switzerland’s largest bank).

    The anonymous whistleblower was represented by Scott Knott of The Ferraro Law Firm. Mr. Knott would not divulge the identity of either their client nor that of the company that was involved.  Although, we know that the company is amongst one of the Fortune 500 companies in the country.

    The IRS is careful to keep the anonymity of corporate whistleblowers, meaning that he/she was most probably employed (and still maybe) by the company turned in during the four years it took to process the claim by the IRS.

    It is unclear to determine exactly how much the IRS has recovered. According to the IRS’s protocol on how much a whistleblower can be awarded it is likely that the IRS collected upwards of $250 million, thus making the award about 15 to 30 percent of total funds retrieved.

  • IRS Crackdown

    Thursday 08th of September 2011 3:16:39 PM

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    Tax cheat caught claiming 20 bogus kids

    NEW YORK (CNNMoney) — Tax fraudsters are getting more creative — and, in some cases, more daring. But the IRS is making it harder for them to get away with their tricks.

    Late last week, a Los Angeles woman pleaded guilty to filing tax deductions for at least 20 fictitious children — which she claimed were all born on the exact same day — in order to land a $300,000 refund, according to the United States Attorney’s Office of Los Angeles.

    Norma Coronel, 40, admitted to obtaining Social Security numbers for the 20 fabricated children and having the money sent to her residence and to bank accounts she controlled, according to the Attorney’s Office. She faces a maximum sentence of 18 years in prison and a maximum fine of $750,000.

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