The IRS Can Pay an Informant's Fee of Up to ____________________

question 62

Short Answer

The IRS can pay an informant's fee of up to ____________________% of the recovered tax, interest, and penalty amounts. In the typical year, about ____________________ such rewards are paid. The reward can be as high as ____________________% for information provided by a "whistle blower."
or

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Definitions:

Note Payable

A written agreement to pay a certain sum of money to a person or an organization at a certain time, considered a liability for the issuer.

Accounts Payable

Liabilities owed by a company to its suppliers or creditors for goods or services purchased on credit.

Note Receivable

A promissory note from the payee’s point of view.

Promissory Note

A written promise to pay a specified amount of money, usually with interest, at a determined future date.