Mark Loyd Quoted in State Tax News
Bingham Greenebaum Doll LLP partner Mark A. Loyd was quoted in the latest issue of State Tax Notes, an online publication from Tax Analysts. Loyd provided insight on a Kentucky Bill HB 438 that would authorize a whistle blower program for the state’s Department of Revenue.
HB 438 is currently in the Kentucky House Senate Government Committee and, if passed, would authorize the state to establish a program to reward individuals who alert the department to tax fraud.
Loyd said that, while most taxpayers aspire to comply with the law, allegations of noncompliance can arise from legitimate differences of opinion about the application of the tax code. A whistle blower program may force taxpayers to consider how to protect themselves from misperceptions of wrongdoing.
“The Kentucky Taxpayer Bill of Rights guarantees that the department will not evaluate, and thus reward, its employees on the basis of, for example, collection quota or goals,” Loyd said. “So why should the department reward whistleblowers?”
Loyd concluded by saying that he does not think HB 438 will pass this session without bipartisan support, which he does not think currently exists.
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