IRS Identifies $37 Billion in Tax-Related Fraud for 2023 (FY23 Data)
The IRS's Criminal Investigation unit (CI) identified a staggering $37.1 billion in tax and financial crimes in fiscal year 2023, exceeding the previous fiscal year's figures. This significant number underscores the IRS's commitment to combating tax evasion and financial fraud.
Key Findings from IRS Criminal Investigation (IRS-CI) in FY23
Robert Wilson reported in December that in fiscal year 2023, the Internal Revenue Service's Criminal Investigation unit identified $37.1 billion in tax and financial crimes. IRS-CI plays a crucial role in uncovering and prosecuting individuals and entities involved in illegal financial activities.
Significant Achievements:
- Initiated Investigations: IRS-CI initiated 2,676 investigations, targeting a wide range of tax and financial crimes.
- Fraud Identification: These investigations identified over $37 billion tied to tax and financial crimes.
- High Conviction Rate: IRS-CI maintained an impressive 88.4% conviction rate for prosecuted cases, demonstrating the effectiveness of their investigative work and the strength of the evidence gathered.
IRS-CI's Focus: Combating Tax and Financial Crimes
IRS-CI focuses solely on investigating tax-related financial crimes, including tax evasion, money laundering, and other illicit activities. The $37.1 billion identified underscores the scale of these problems and the importance of the IRS's efforts.
The IRS continues to prioritize the investigation and prosecution of tax fraud, ensuring fairness and integrity in the tax system.