The government is upping its enforcement measures in the wake of its success in catching tax cheats, penalizing promoters, barring unscrupulous preparers and shutting down abusive tax shelters, according to officials. At a joint Internal Revenue Service-Justice Department briefing, agency executives noted that last year, IRS Criminal Investigation referred more than 3,000 cases to the Justice Department for possible criminal prosecution, nearly a 20 percent increase over the previous year. During fiscal year 2004, the conviction rate on cases investigated by the IRS and referred to Justice was 95.4 percent. "If you're thinking about cheating on your taxes, think twice," said IRS Commissioner Mark W. Everson. "The IRS is ramping up its enforcement efforts, particularly for high-income individuals and corporations. Where we need to, we turn to the Justice Department to take people to court." The Justice Department's Tax Division's criminal enforcement priorities include prosecuting schemes that involve using trusts or other entities to conceal control over income and assets; shifting assets and income to hidden offshore accounts; claiming fictitious deductions; using frivolous justifications for not filing truthful tax returns; failing to withhold, report and pay payroll and income taxes; failing to report income; and failing to file tax returns.
-
The IRS is reevaluating how to gauge the more than 150 taxpayer service improvement projects it had been pursuing before staffing and budget cuts this year.
2h ago -
The IRS's progress in improving tax compliance in recent years has been threatened by cuts in funding and hiring, according to a new report.
3h ago -
Indiana CPA Society awards $24,550 in scholarships; Weaver and Herbein + Co. relocate offices; and more news from across the profession.
6h ago -
Amid cost pressures, more than a third of finance leaders have paused at least some capital spending and cut costs in virtually all areas except for AI.
9h ago -
Plus, Sage launches Tap to Pay feature; UHY offers CCMP accelerator courses; and other accounting technology news and updates.
10h ago -
The annual list recognizes the 100 top workplaces in the profession.
July 17