Boba Fett May Find Work With the IRS: Bounties Double Under 26 U.S.C. § 7623

Lime, you had better make sure that you completed your W-2 correctly, or you could be on the receiving end of a qui tam action filed by yojoe.

Boba Fett Poster CardThe Tax Relief and Health Care Act of 2006, (26 U.S.C. § 7623), provides additional incentives for those who come forward with information about individuals or other tax entities who have underpaid their taxes. The IRS has had an informant-reward program since 1954, but the provision was not used extensively by qui tam lawyers (a.k.a. bounty hunters) because the government was free to deny a reward, or bounty. Under the new law, a whistleblower can file an appeal with the U.S. Tax Court to enforce her right to a reward. This reward may be up to 30% of the amount recovered by the IRS.

It is unlikely, however, that H-Lime has much to fear as the jurisdictional minimum for the new law is $2 million, including taxes, interest, and penalties. Even with his lucrative second income as a professor, it is unlikely that the Lime makes that kind of money.

yojoe

P.S. As Mr. Lime is a very honest and trustworthy fellow, it is unthinkable that he would cheat on his taxes.

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4 Comments

Filed under Business, Law, Science Fiction

4 responses to “Boba Fett May Find Work With the IRS: Bounties Double Under 26 U.S.C. § 7623

  1. You know, yojoe, there is something called an “audience” out there. Are we really trying to be “Punch & Judy,” or perhaps could you find someone else to pick on? Then again, emulating something that attracts legions of Brits can’t be all wrong.

    Not that I mind it every once in awhile . . . but I’m having a hard time finding anyone other than “H Lime” as the culprit in your hypotheticals . . . Hmmm. How to use yojoe in a hypothetical . . .

    Affectionately,
    Harry

  2. Lime,

    Our audience for legal developments should not have too much heartache over a little humor with their information. Latest changes to the USC, qui tam actions, this is substance. Remember a spoon full of sugar helps the medicine go down. The law is to be studied, but also enjoyed.

    yojoe

  3. I agree, Punch & Judy is quite funny. I must be too dry (or simply not funny). I was trying to rib you yet again, and you took me seriously. I’ll keep my day job.

    Harry

  4. I’ve been involved in taxes for lengthier then I care to acknowledge, both on the private side (all my employed life!!) and from a legal viewpoint since satisfying the bar and following up on tax law. I’ve offered a lot of advice and redressed a lot of wrongs, and I must say that what you’ve put up makes impeccable sense. Please carry on the good work – the more people know the better they’ll be outfitted to deal with the tax man, and that’s what it’s all about.

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