Tax fraud

The Internal Revenue Service is continuing to combat scammers and promoters encouraging businesses to file claims for the tax credit.

Fraudsters are ever-inventive, and accountants and tax pros need to make sure their clients keep vigilant.

The new positions, which will be in more than 250 locations, will help ramp up compliance efforts against high-income earners, partnerships, large corporations, and promoters.

Tax experts testified during a hearing about the Employee Retention Credit and the issues they and their clients are facing.

The service's Criminal Investigation unit investigated 975 tax and money laundering cases related to COVID-19 with fraud totaling $3.2 billion.

Relationships between a wealth management company and a law firm soured and spilled into a Quebec court.

"ERC mills" are encouraging applications for the tax credit from businesses that may not qualify for the pandemic relief program.

Sheldon Whitehouse, D-Rhode Island, and Roger Wicker, R-Mississippi, introduced bipartisan legislation to put more responsibility on accountants and other financial professionals to safeguard against money laundering and other crimes.

Federal investigators are uncovering billions of dollars in fraud tied to pandemic relief programs.

It’s one of the hottest corners of crypto — and now the U.S. government wants its share of the profits.

The Internal Revenue Service is focusing on cryptocurrency tax evasion with virtual currencies like Bitcoin and nonfungible tokens, employing data analytics to uncover transactions that crypto users assumed were hidden.

Individuals have already started receiving requests for information, according to tax attorneys.

The Biden administration is also calling for banks to report on account flows to help boost tax-payment compliance.

Collecting all unpaid income tax from the top 1% would boost revenue to the U.S. Treasury by $175 billion a year.

The Internal Revenue Service’s Criminal Investigation Division issued a warning Thursday about a new wave of COVID-19 scams tied to the latest round of stimulus payments, especially targeting taxpayers in the District of Columbia.

A group of 25 Democrats in the House wrote to congressional leaders asking them to provide $12.1 billion in funding for the Internal Revenue Service, including $5.2 billion for enforcement, with an eye toward cracking down on high-income tax cheats.

Though notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.

The COVID-19 pandemic has infected the service’s annual list of top tax scams.

Swiss banks face pressure across Europe, with prosecutors in France, Germany and Italy accusing them of helping clients hide money from tax authorities.

The bank allegedly helped French clients evade taxes.