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When targeting taxpayers for fraud and other crimes, the Internal Revenue Service (IRS) has various investigative tools at its disposal. One of these tools is the summons. The IRS routinely issues summonses in order to obtain information in furtherance of its enforcement efforts, and these summonses can present significant risks […]
In a recent update on the federal government’s ongoing efforts to prosecute Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) fraud, we noted that the U.S. Small Business Administration (SBA) has identified 11 “fraud indicators” based on its enforcement efforts to date. As we also noted in the […]
For U.S. taxpayers who are behind on their federal reporting and payment obligations, voluntary disclosure provides an opportunity to resolve their issues with the IRS. However, submitting a voluntary disclosure isn’t an option in all scenarios, and when it is an option, it is not without risks. As a result, […]
Tax evasion and tax fraud are serious federal crimes. Companies convicted of these crimes can face substantial fines, while individuals convicted of tax evasion and tax fraud can face both fines and prison time. When facing scrutiny from IRS Criminal Investigation (IRS CI), the Federal Bureau of Investigation (FBI) or […]
Uncovering and prosecuting Paycheck Protection Program (PPP) fraud remains a top federal law enforcement priority midway through 2023. Due to the relatively relaxed rules put in place to facilitate the quick disbursement of loans under the program at the height of the COVID-19 pandemic, many businesses and individuals were able […]
The Internal Revenue Service’s (IRS) streamlined filing compliance procedures provide a way for U.S. taxpayers to mitigate the consequences of failing to disclose their foreign financial assets. Taxpayers who qualify to submit a streamlined filing are not subject to failure-to-file, failure-to-pay or accuracy-related penalties and instead pay a five-percent “miscellaneous […]
While the Internal Revenue Service’s Criminal Investigation Division (IRS CI) is responsible for investigating federal tax crimes, it doesn’t focus solely on criminal violations of the Internal Revenue Code. IRS CI investigates other financial crimes as well, and it routinely works alongside the Federal Bureau of Investigation (FBI) and the […]
U.S. taxpayers that have failed to meet their filing and payment obligations have various options for resolving these “tax controversies” with the Internal Revenue Service (IRS). However, the specific options that are available in any particular case depend on the circumstances involved. For example, while IRS Criminal Investigation’s (IRS CI) […]
The Internal Revenue Service (IRS) and its Criminal Investigation Division (IRS CI) are continuing to prioritize the investigation of COVID-19 relief fraud. This includes fraud under the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program, as well as fraudulent use of the limited-time Employee Retention Credit (ERC). […]
Audits conducted by the Internal Revenue Service (IRS) can have a variety of outcomes. In some cases, they can simply confirm taxpayers’ compliance with the Internal Revenue Code. In others, they can lead to liability for back taxes, interest and penalties; and, in others still, they can trigger criminal tax […]