IRS Criminal Investigation releases FY24 Annual Report; detailing agency’s global reach, billion-dollar impact
IRS Criminal Investigation
IRS Criminal Investigation serves Americans by investigating potential criminal violations of the Internal Revenue Code.
WASHINGTON – IRS Criminal Investigation (IRS-CI) released its Fiscal Year 2024 (FY24) Annual Report Thursday that details significant cases involving crimes ranging from tax fraud to cybercrime, enhanced domestic and foreign partnerships and investigative statistics from FY24 that took place from Oct. 1, 2023, to Sept. 30, 2024.
“FY24 was one for the history books. For years, IRS-CI has been known as the agency that took down Al Capone, but this year, our cases hold their own place in U.S. history,” said IRS-CI Chief Guy Ficco . “As with Al Capone, financial trails eventually lead to criminals’ downfall. Our agents are the best at following the money trail, and that’s why they have an integral role in bringing down criminals ranging from national security threats to drug traffickers.”
This year’s report highlights several firsts for the agency – the first sentencings tied to syndicated conservation easement schemes, the first indictment and guilty plea of a U.S. taxpayer solely for not paying taxes on gains from cryptocurrency sales, the first time Treasury agencies have led a task force and public outreach series to combat fentanyl trafficking, and a historic financial settlement by the world’s largest cryptocurrency exchange for violating anti-money laundering and sanctions laws.
In FY24, IRS-CI initiated more than 2,667 criminal investigations, obtained 1,571 convictions, and reclaimed its 90 percent conviction rate. The agency’s investigative work identified more than $9.1 billion in fraud from tax and financial crimes, obtained court orders totaling $1.7 billion in restitution to the IRS and seized criminal assets totaling approximately $1.2 billion.
Other significant items in this year’s annual report include:
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? IRS-CI extended the agency’s international footprint by launching a new attaché post in Nassau, Bahamas, and a Cyber attaché post in Singapore.
? The International Training Team delivered more than 30 trainings to over 930 participants from more than 70 countries. These trainings play a critical role in global partnerships and investigations.
? Combatting cybercrime continued to be a focus for the agency. In FY24 alone, IRS-CI initiated 111 new cybercrime investigations, and defendants in these cases continue to receive prison sentences averaging more than five years.
The report also includes case examples for each U.S. field office, details about the specialized services provided by IRS-CI, and additional statistics about the agency for FY24.
IRS-CI is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. IRS-CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code. The agency has 20 field offices located across the U.S. and 14 attaché posts abroad.
35 years Certified Fraud Examiner, Forensic Accountant, Expert Witness, and Past President of Texas Association of Licensed Investigators (TALI)
3 周Just heard good news: IRS CI will be deputized as US Marshalls to take on the matters at the border and work with ICE. It is good news because IRS CI is always thought in the realm of the revenue agent collecting taxes instead of the enforcement Special Agents of the Treasury Department under the Internal Revenue Service. IRS CI agents are as trained as any other Federal Criminal enforcement agency to carry out the enforcement of the laws they enforce. They can be easily deputized as Deputy US Marshalls by simply sharing them. We were sworn Deputy US Marshall when we arrested Jim Garrison and his coconspirator in the 1970's. IRS CI has been involved in illegal drug investigations using the money laundering laws since the 1980's. We pioneered the financial search warrant to seize the assets of drug kingpins with local, state, and other Federal agencies. The Assistant US Attorneys favor IRS CI involvement in money cases. Using their training, skills, and expertise, IRS CI Special Agents can enhance the other agencies in enforcing the laws assigned to them to enforce.
IRS Representation | Real Estate Tax Expert | Forensic Accounting for Aggrieved Investors | CPA, MST, MBA
1 个月Very good work, especially the conviction rate. Good teamwork needs strong leadership.
Technical Architect / Cloud Scaling with AWS / NodeJS / Python
2 个月I have people trying to interfere with the submission of a Form 22. I am the eye witness who has the information and a form filled out. I submitted it electronically via my FISA.
Investigative Assisstant at Internal Revenue Service
2 个月Wish all my CI colleagues a very Happy New Year with lots of new hurdles to cross happily.