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With the temptation to fudge taxes being greater than ever, the IRS plans to reward those who are willing to rat out tax cheats. As a part of its informant programs, the IRS encourages those who suspect someone of committing tax fraud to report itfor a handsome reward.

How Does the Program Work?

By blowing the whistle on those who cheat on taxes, the IRS usually will give the whistle blower a percentage of the amount that the tax cheat underpaid. However, since there are two different programs carrying different percentage amounts, lets take a look at the two:

1.For small-time crooks: If you want to blow the whistle on a small-time crook then you would be participating in the original IRS informant program that has been around for more than 140 years. If you report someone to this program, you could receive up to 15 percent of the amount that has been underpaid up to a maximum award of $10 million.

2.For big-time crooks: On the other hand, if you suspect someone of cheating the IRS out of at least $2 million (including taxes, penalties and interest) then you could receive between 15 and 30 percent of what was underpaid in a new whistle-blower program. The catch with this program, however, is that the suspected tax evader must be an individual and his or her gross income must exceed $200,000.

Does The Program Help?

So far, the IRS has reported that in the fiscal year 2008, 476 informant tips were received identifying 1,246 taxpayers just in the second whistle-blower program. In total, the firm has received claims from informants that involve billions of dollars in taxes, penalties and interest.

Its clear that the IRS takes tax fraud seriously. However, there are always people ready to try their unique tax scams, especially when the economy is suffering. If you want to make a quick buck off of someone you know who is planning to cheat on taxes this year, you can complete a claim on the IRS site or call the tip line at 1-800-829-0433.

Would you snitch on someone who is cheating on their taxes?

New data for public colleges and universities across the country are showing that tuition is skyrocketing for the 2010-2011 school year by as much as 30 percent.

While not all schools have reached this incredible peak, there is no doubt that schools around the country are raising their tuition rates, something that may make acquiring student loans more crucial for students.

Schools with Increased Tuition Rates

While not all colleges and universities have made significant increases, some of the schools that have been noted for increased tuition for the 2010-2011 school year include:

• University of California 30 percent
• Universities of Nevada and Florida 15 percent
• University of Washington 14 percent

The reason for the increase in tuition rates for many schools has to do with recent budget cuts administered in many states. For instance, the University of Washington is raising rates to supplement the $21 million cut in funding from Washington State.

Likewise, the University of California system lost $637 million from the state in the 2009-2010 school year alone.

Student Loans Dwindling

With rates increasing for tuition at a rapid pace, it has become more important than ever that students acquire some type of funding to help them get into school. Unfortunately, with federal student loans dwindling thanks to the financial crisis, acquiring financial assistance is more difficult than ever.

If you find yourself in the position of needing financial assistance, its a great idea to apply for scholarships. Also, its good to apply for schools with lower tuition. These, along with the backup plan of applying for federal and/or private student loans could help get you into a great school at a small cost to you.

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