The IRS Criminal Investigation (CI) division has investigated 1,644 tax and money laundering cases related to COVID-19 fraud, potentially worth $8.9 billion, according to statistics released by the agency.
With a 98.5% conviction rate, the IRS has indicted almost 800 people and sentenced 373 to an average of 34 months in prison.
The IRS continues to open new pandemic-related fraud investigations, amounting to $5 billion in potential fraud in 2023 alone.
The agency said funding from the 2022 Inflation Reduction Act will help provide more resources to expand the CI’s ongoing fraud-protection work. Read more.