IRS Criminal Investigation Division to Increase Focus on Crypto Tax Cases

 

 

 

 

 

 

The Internal Revenue Service Criminal Investigation division released its annual report on Thursday, revealing that it is continuing to prioritize cybercrime, employment tax concerns, and cryptocurrency tax-related issues, Accounting Today reports. The division reported that it had identified a total of $1.8 billion of tax fraud so far this year and has successfully prosecuted 91.2 percent of its financial crime cases.

In a conference call with reporters, division chief Don Fort said that his team had been “challenged in the manpower perspective for the last five to six years” but has spent that time developing new capabilities in cyber investigations and data analytics.

 According to Fort, the Criminal Investigation division currently has about 2,000 special agents, which he described as “1970s level” staffing. The division is expected to increase that number dramatically as new agents are onboarded in 2020.

Fort said that he expects his division to focus even more on cryptocurrency tax issues next year. He also noted that CI has a number of open cases involving cybercrime and digital currencies, and he hopes to publicly announce details during the current fiscal year.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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