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IRS Issues New Proposed Regulations on Whistleblower Program

IRS has issued proposed regulations that would provide comprehensive guidance for the IRS whistleblower award program under Internal Revenue Code Sec. 7623. The proposed regs would provide guidance on issues relating to the whistleblower award program from the filing of a claim to the payment of an award, and would focus on: (1) the submission of information and filing of claims for award; (2) the administrative proceedings; and (3) the computation and payment of awards.