The US Internal Revenue Service is known to punish taxpayers who are delinquent paying their taxes. That is, unless you are an IRS employee. An audit revealed that the agency showered bonuses and paid time-off on employees who had been recently disciplined or had tax problems themselves. Rewarding tax cheats Nearly $1 million in bonuses was given to IRS employees who were themselves in tax trouble with the IRS. The tax issues included willful understatement of tax liabilities, late payments and under-reporting of income, according to the report issued by the Treasury Inspector General for Tax Administration. Current federal regulations do…
IRS Gave Bonuses To Employees Who Cheated On Taxes
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.