Keeping them honest -2

I first wrote about an e-governance initiative by Reserve Bank of India here http://www.decisionstats.com/2008/08/keeping-them-honest/

for finance related customer complaints against banks. Another great example of this is

an American website by the American Internal Revenue Service here at http://www.irs.gov/pub/irs-pdf/f211.pdf

This is true for even Americans having offshore accounts. You need to pay taxes. And if you notice someone who doesn’t you can complain and get a bounty.

Note you cannot just complain against your ex boss anonymously ( yet) , but you can also file a named complaint on offshore accounts. You can also

declare tax evasion if your company is doing creative accounting , not paying contractors overtime pay, health benefits etc using regulatory arbitrage especially if these relate to cross border transactions that make things which are illegal to do in US but legal to do in say in Indian offshoring firms. And companies that get tax breaks or a business expense deduction for doing so. You not only help your country and conscience, you actually get rich for doing so in the form of a federal payout.( see below)

image

And all at the click of a mouse and stroke of a keyboard.

Process for Evaluating Whistleblowers Claim
  • A threshold requirement for any award under 7623 is that the information must lead to judicial or administrative action an audit or investigation resulting in the collection of proceeds.
  • An analyst in the Whistleblower Office will consider the information provided by the whistleblower. The IRS has to decide that the case is worth pursuing.
  • In the case of a large corporate taxpayer whose returns are audited each year, an administrative action can mean the creation of a new issue under the Audit Plan or a change in the way information about an issue is collected or analyzed, which would not otherwise have occurred without the information provided by the whistleblower.

But if you are scared of doing so but still want to clear your conscience without doing a Deep Throat here is something the Obamas have put in place

http://www.whitehouse.gov/contact/