IRS CIS Issues its Report for 2013 – US Tax Returns to IRS
The IRS has issued its annual Criminal Investigations Report for 2013. This 36-page document summarises the variety of tax crimes investigated and prosecuted during the year, including terrorist financing, drug trafficking and international financial crimes.
Despite a 5% decrease in agent resources, the number of IRS convictions rose by more than 25% compared to 2012.
Special Criminal Investigation
On an international front, the IRS has special agent attaches in 10 countries around the world. These special Criminal Investigation attaches are focused on international banking institutions and overseas offices include: Beijing, Bogota, Bridgetown, Frankfurt, Hong Kong, London, Mexico City, Ottawa, Panama City, Sydney and The Hague.
The success rate in convictions has been due partly because of the collaborative efforts between the Criminal Investigation Division and local law enforcement agencies. One of the task forces, the Tampa Bay Identity Theft Alliance, was recently recognised as the “2013 Task Force of the Year”.This report has been noted as “the tip of the iceberg” of complex tax evasion cases involving individuals and corporations from all segments of society, from corporate board rooms to narcotics trafficking organisations.
Encouraging Compliance with Tax Law
We will see a continuation of these practices this forthcoming year. The IRS Criminal Investigation Division will look to investigate potential criminal violations of the Internal Revenue Code and related financial crimes in a manner to foster confidence in the tax system and compliance with the law.
For more information, you can find the report here: http://www.irs.gov/uac/Newsroom/IRS-Criminal-Investigation-Issues-Annual-Report
The IRS will be continuing in their search for tax evaders. If you are unsure of your tax compliance, you may need to take advice. For more information you can visit our website, or alternatively sign up for our newsletter here to stay in the loop regarding all FATCA, and US tax developments.