Illinois Tool Works, Inc. pays big tax bill because of IRS whistleblower

It is unknown exactly how much Illinois Tool Works had to pay because of an IRS whistle-blower; however, it is estimated that it could have paid as much as $383 million to the IRS because of information received from the whistle-blower.  IRS whistle-blowers receive payment based on information they provide only after the company pays taxes based on that information.

A spokesperson from Illinois Tool Works stated that the matter might have gone back to a 1995 transaction.  For full details read, “Tax whistleblower collects $2 million reward from IRS, lawyer says.”

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