The Internal Revenue Service's Criminal Investigation Division initiated 19 percent fewer investigations and recommended nearly 900 fewer prosecutions in fiscal year 2014 than in the previous year, the agency said in a report Tuesday.
In the wake of criticism from a government watchdog, the Internal Revenue Service is close to finalizing changes to a limited amnesty program for Americans illegally hiding funds overseas and dodging reporting requirements, the head of the tax agency said Tuesday.
The IRS can serve broad summonses to five of the world's largest banks as part of an effort to collect data on American tax evaders, the Southern District of New York said.
The IRS has identified multiple U.S. banks that it could issue subpoenas to as part of an effort to determine whether international institutions have aided American tax evaders, a former agency official said Monday.