Staff report
IRS Criminal Investigation (IRS-CI) released its fiscal year 2024 annual report on Dec. 5, which details significant cases involving crimes ranging from tax fraud to cybercrime, enhanced domestic and foreign partnerships, and investigative statistics from Oct. 1, 2023, to Sept. 30, 2024.
In FY24, IRS-CI initiated more than 2,667 criminal investigations, obtained 1,571 convictions, and reclaimed its 90% 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. IRS-CI also identified $2.1 billion in tax fraud.
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.
“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,” IRS-CI Chief Guy Ficco said in a statement. “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.”
Other significant items in this year’s annual report include:
- 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.
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Tags: Income Tax, IRS, Taxes
