MT: Bounty Hunter for the IRS

By: Stacy Johnson
By: Stacy Johnson

Every year, the IRS pays out millions of dollars in rewards to informants who turn in tax cheats. However, the rules have changed.

So, if you want to become a bounty hunter for the IRS, here are a few tips to follow.

A fugitive ran from South Carolina and ended up here. We tracked him down through our various sources and went in and grabbed him when the time was right.

Part of Catherine Crespo's job is bringing fugitives to justice, or at least to jail. It may pay well, but it's not the safest or easiest thing to do either.

If you like the idea of bounty, but make it a rule to avoid guns, here's an idea: turn in tax cheats! That's where the real money is anyway, at least theoretically. The reason: the IRS will pay 10 to 30% of the dough they collect from people who cheat on their taxes.

However, the rules have changed this year, so before you bug the boss's office take note: rewards are only paid if the person's gross income exceeds $200,000 and they owe at least $2 million in taxes, interest and penalties. So be sure you net a big fish.
“I think that might be a new business I'm looking into. It’s probably a lot less dangerous than what I'm doing now.”

Still interested? Make sure you file a form 211 up front, or you won't get paid. And that reward, by the way, is taxable. Don't forget to report it or you might become the source of someone else's reward.

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