Thursday, October 08, 2009

Telling Signs of the Economy

The economy may be turning many honest taxpayers into tattle tells according to a recent article I came across. The Tax Relief and Health Care Act of 2006 created the Whistleblower Office and the office has seen a significant upswing in the amount of anonymous tips from law abiding taxpayers of those who shall we say like to live on the wild side of the tax law. Recent changes to the law have increased the payments from 15% to 30% maximum and the increase is certainly making taxpayers feel compelled to tell on those who want to evade taxes. The only problems with the new Whistleblower system is the time it takes for a claim to be processed and protection for employees who turn in their employers for evading taxes. All in all the systems appears to be a new option for many taxpayers to find additional money in this tough economy.

B. N. S.

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