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. The chief of IRS-CI, Richard Weber, attributed the decline to a reduction in the agency's annual budget over the past several years, which has led to a hiring freeze. With the loss through retirement of up to 160 agents annually, the division expects to have 2,302 special agents by the end of fiscal year 2015, or 1061 fewer than its high of 3,363 in 1995 and 437...
The Internal Revenue Service's Criminal Investigations division for the second straight year began fewer investigations and sought a smaller number of prosecutions for money laundering, terrorist financing and other financial crimes, the agency said Thursday.
The importance of the IRS hasn't prevented Congress from cutting its budget by 20 percent over the past five years. Operating with 13,000 fewer employees, the IRS is finding it increasingly difficult to accomplish what it is tasked to do.
The Internal Revenue Service must improve communication with financial institutions to detect and prevent criminals from using stolen social security and tax identification numbers to claim a tax refund, according to U.S. officials.
The Obama administration's plan to increase annual appropriations for IRS enforcement efforts by more than $1 billion met criticism Tuesday from Republican members of the U.S. Senate Finance Committee.
The Internal Revenue Service's anti-money laundering division is in the process of revamping how it examines tens of thousands of money services businesses, according to a former U.S. Treasury Department official.