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Criminal Investigations: Tax Crimes and Fraud Issues The IRS Criminal Investigations (CI) Division is the only federal law enforcement agency that can investigate violations of the Internal Revenue Code, Title 26. Resulting from the COVID chaos, CI has investigated 1,644 tax and money laundering sch...

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Bibliographic Details
Published inCalifornia CPA Vol. 93; no. 2; pp. 9 - 10
Main Author Thornton, Melody
Format Trade Publication Article
LanguageEnglish
Published Redwood City California Society of Certified Public Accountants 01.08.2024
Subjects
Balance sheets
Cybercrime
Employee leasing
Employment
Fraud
Investigations
Partnership interest
Stakeholders
Tax courts
Tax evasion
Taxation
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Summary:Criminal Investigations: Tax Crimes and Fraud Issues The IRS Criminal Investigations (CI) Division is the only federal law enforcement agency that can investigate violations of the Internal Revenue Code, Title 26. Resulting from the COVID chaos, CI has investigated 1,644 tax and money laundering schemes related to CARES Act fraud and has convicted 795 people with 373 people sentenced to federal prison for an average stay of 34 months. A key focus area is tiered partnerships because of schemes to issue form K-1s under false EINS and Social Security numbers. Since 2021 the compliance program has focused on entities with $10 billion or more in assets in key industries of insurance, real estate and private equity.
ISSN:1530-4035