IRS Whistleblower Office (WBO) did not abuse its discretion when it denied a whistleblower award on the premise that no proceeds were collected on the basis of the information provided, the U.S. Tax Court held in a memorandum opinion. Whistleblower (W) brought a claim that an S corporation and its shareholders overstated costs of goods sold and claimed improper deductions on payments made from the majority shareholder to his daughter, the remaining shareholder. As a result, the IRS audited the returns with adjustments to net operating losses. However, the NOLs were carried forward resulting in no tax change since the ...
To read the full article log in. To learn more about a subscription click here.
; ; ; President on Thursday claimed not to and suggested that his multiple attacks against the over the past week are merely the product of a disagreement over ’s nuclear weapons program — somethi...